Alamo Group (NYSE:ALG) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Several other analysts also recently weighed in on ALG. DA Davidson dropped their target price on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Baird R W downgraded shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research note on Monday, March 3rd. Finally, Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $224.00 to $177.00 in a research note on Friday, February 28th.

Alamo Group Stock Down 0.5%

NYSE:ALG opened at $198.26 on Thursday. The company has a market cap of $2.40 billion, a PE ratio of 19.97 and a beta of 1.02. Alamo Group has a twelve month low of $157.07 and a twelve month high of $205.62. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $178.84 and its two-hundred day moving average is $184.81.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.32. The company had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Analysts anticipate that Alamo Group will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Wednesday, April 16th. Alamo Group’s dividend payout ratio is currently 12.50%.

Insider Activity at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the completion of the sale, the chief executive officer now owns 40,913 shares of the company’s stock, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total transaction of $100,920.00. Following the completion of the sale, the executive vice president now directly owns 12,948 shares of the company’s stock, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALG. Ninepoint Partners LP purchased a new stake in Alamo Group in the 1st quarter worth $40,988,000. Bank of America Corp DE increased its holdings in Alamo Group by 826.1% in the 4th quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company’s stock worth $24,260,000 after acquiring an additional 116,404 shares in the last quarter. SG Capital Management LLC purchased a new stake in Alamo Group in the 4th quarter worth $16,971,000. Ameriprise Financial Inc. increased its holdings in Alamo Group by 338.4% in the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company’s stock worth $21,539,000 after acquiring an additional 89,430 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Alamo Group by 22.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company’s stock worth $71,437,000 after acquiring an additional 74,679 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.