Alamo Group (NYSE:ALG) Stock Rating Lowered by Wall Street Zen

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

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

Alamo Group Stock Performance

NYSE:ALG opened at $207.59 on Friday. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 20.90 and a beta of 1.07. Alamo Group has a 1-year low of $157.07 and a 1-year high of $208.68. The business has a 50 day moving average of $182.41 and a 200 day moving average of $185.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

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

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group’s dividend payout ratio (DPR) is currently 12.50%.

Insider Transactions at Alamo Group

In related news, EVP Richard Hodges Raborn sold 500 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the completion of the sale, the executive vice president now owns 12,948 shares of the company’s stock, valued at $2,613,424.32. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $705,320.00. Following the transaction, the chief executive officer now directly owns 40,913 shares in the company, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in shares of Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 72 shares during the period. Smartleaf Asset Management LLC grew its stake in Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 168 shares during the period. GAMMA Investing LLC raised its holdings in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 125 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Alamo Group by 30.0% during the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after buying an additional 61 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after buying an additional 314 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

About Alamo Group

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.