Alamo Group (NYSE:ALG) Upgraded at StockNews.com

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

Separately, Robert W. Baird lifted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

Alamo Group Stock Down 0.5 %

Shares of NYSE:ALG opened at $184.04 on Tuesday. Alamo Group has a one year low of $163.74 and a one year high of $228.88. The company has a 50 day moving average of $184.09 and a 200-day moving average of $183.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 18.53 and a beta of 1.10.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, sell-side analysts forecast that Alamo Group will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were paid a $0.30 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is presently 12.08%.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Alamo Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock valued at $134,070,000 after buying an additional 2,361 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Alamo Group by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after purchasing an additional 30,826 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Alamo Group by 8.0% in the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after purchasing an additional 33,294 shares in the last quarter. State Street Corp lifted its position in shares of Alamo Group by 2.6% in the third quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after purchasing an additional 10,013 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Alamo Group by 0.3% in the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after purchasing an additional 670 shares in the last quarter. 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.