Alamo Group, Inc. (NYSE:ALG) Receives $222.33 Average PT from Analysts

Alamo Group, Inc. (NYSE:ALG) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $222.3333.

ALG has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 29th. Zacks Research lowered Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. DA Davidson lowered their price target on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Wall Street Zen lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th.

Insider Buying and Selling

In related news, CEO Robert Paul Hureau bought 600 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $167.77 per share, with a total value of $100,662.00. Following the completion of the purchase, the chief executive officer owned 11,588 shares in the company, valued at $1,944,118.76. This represents a 5.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have purchased 1,058 shares of company stock valued at $175,209. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently modified their holdings of ALG. SG Americas Securities LLC increased its holdings in Alamo Group by 18.9% in the 4th quarter. SG Americas Securities LLC now owns 4,754 shares of the industrial products company’s stock worth $798,000 after purchasing an additional 756 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Alamo Group by 359.7% during the third quarter. Tudor Investment Corp ET AL now owns 6,188 shares of the industrial products company’s stock worth $1,181,000 after purchasing an additional 4,842 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Alamo Group in the third quarter valued at approximately $211,000. NewEdge Advisors LLC bought a new position in Alamo Group in the 3rd quarter valued at approximately $310,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Alamo Group by 2.6% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 8,771 shares of the industrial products company’s stock valued at $1,663,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Trading Up 0.4%

Shares of ALG stock opened at $187.27 on Friday. The stock has a market cap of $2.27 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.12. Alamo Group has a 1 year low of $156.29 and a 1 year high of $233.29. The company has a current ratio of 4.43, a quick ratio of 2.72 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $169.67 and a 200 day simple moving average of $194.36.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.61 by ($0.27). The company had revenue of $420.04 million during the quarter, compared to analyst estimates of $407.55 million. Alamo Group had a net margin of 7.20% and a return on equity of 11.11%. On average, research analysts predict that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Friday, January 16th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, January 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio is currently 14.11%.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.