Alamo Group (NYSE:ALG) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a research note published on Wednesday.

Separately, DA Davidson boosted their price objective 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 Down 0.5 %

NYSE:ALG opened at $203.92 on Wednesday. Alamo Group has a 1 year low of $157.74 and a 1 year high of $231.40. The stock has a 50-day moving average price of $210.92 and a two-hundred day moving average price of $199.29. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 17.95 and a beta of 1.04. The company has a current ratio of 3.76, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The business had revenue of $417.54 million during the quarter. As a group, equities analysts expect that Alamo Group will post 13.17 earnings per share for the current year.

Alamo Group Announces Dividend

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

Insider Transactions at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the sale, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Duncker Streett & Co. Inc. bought a new position in Alamo Group in the first quarter valued at approximately $82,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alamo Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 403,017 shares of the industrial products company’s stock valued at $92,021,000 after buying an additional 3,827 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Alamo Group by 19.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock valued at $73,223,000 after buying an additional 53,195 shares during the last quarter. Tributary Capital Management LLC bought a new position in shares of Alamo Group in the first quarter valued at $12,844,000. Finally, Diversified Trust Co increased its holdings 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 worth $331,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds 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.