Alamo Group (NYSE:ALG) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a report published on Tuesday morning.

Separately, DA Davidson increased their target price on shares of Alamo Group from $230.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, February 27th.

Alamo Group Stock Performance

Shares of ALG opened at $202.34 on Tuesday. The firm has a 50-day moving average price of $211.76 and a 200 day moving average price of $198.47. The firm has a market capitalization of $2.44 billion, a PE ratio of 17.81 and a beta of 1.04. The company has a quick ratio of 1.99, a current ratio of 3.76 and a debt-to-equity ratio of 0.24. Alamo Group has a 52-week low of $157.74 and a 52-week high of $231.40.

Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). The company had revenue of $417.54 million during the quarter. Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. On average, sell-side analysts anticipate that Alamo Group will post 13.17 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, April 15th. Alamo Group’s payout ratio is 9.15%.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the sale, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Contravisory Investment Management Inc. lifted its holdings in Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 47 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Alamo Group by 33.5% during the second quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock valued at $50,000 after buying an additional 68 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Alamo Group by 0.5% during the third quarter. Alliancebernstein L.P. now owns 13,851 shares of the industrial products company’s stock valued at $1,694,000 after buying an additional 70 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Alamo Group by 0.8% during the third quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock valued at $1,592,000 after buying an additional 72 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Alamo Group by 5.2% during the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after buying an additional 72 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.