StockNews.com Begins Coverage on Alamo Group (NYSE:ALG)

StockNews.com assumed coverage on shares of Alamo Group (NYSE:ALG – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the industrial products company’s stock.

Separately, DA Davidson boosted their target price on shares of Alamo Group from $156.00 to $173.00 and gave the company a neutral rating in a research note on Monday, February 27th.

Alamo Group Stock Performance

ALG stock opened at $173.19 on Thursday. Alamo Group has a 1 year low of $108.35 and a 1 year high of $186.37. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 20.28 and a beta of 0.98. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 3.82. The stock’s fifty day moving average is $163.14 and its two-hundred day moving average is $148.29.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Wednesday, January 18th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Tuesday, January 17th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.18. Alamo Group’s payout ratio is 10.30%.

Insider Activity

In related news, VP Janet S. Pollock sold 150 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $180.40, for a total value of $27,060.00. Following the completion of the transaction, the vice president now owns 2,606 shares in the company, valued at approximately $470,122.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Edward Rizzuti sold 394 shares of Alamo Group stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $184.21, for a total transaction of $72,578.74. Following the transaction, the executive vice president now directly owns 5,433 shares in the company, valued at approximately $1,000,812.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Janet S. Pollock sold 150 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $180.40, for a total value of $27,060.00. Following the completion of the sale, the vice president now owns 2,606 shares of the company’s stock, valued at approximately $470,122.40. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALG. Morgan Stanley boosted its position in shares of Alamo Group by 277.8% during the 4th quarter. Morgan Stanley now owns 278,133 shares of the industrial products company’s stock valued at $39,384,000 after purchasing an additional 204,507 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Alamo Group by 8.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock worth $96,065,000 after buying an additional 53,730 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Alamo Group by 317.7% in the second quarter. Goldman Sachs Group Inc. now owns 59,710 shares of the industrial products company’s stock valued at $6,952,000 after buying an additional 45,416 shares in the last quarter. Strs Ohio bought a new position in shares of Alamo Group in the fourth quarter valued at $5,479,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Alamo Group by 4.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock valued at $100,603,000 after acquiring an additional 36,290 shares during the last quarter. 91.67% of the stock is owned by institutional investors and hedge funds.

Alamo Group Company Profile

(Get Rating)

Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.