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

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

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

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $216.67 on Friday. The company has a market capitalization of $2.62 billion, a PE ratio of 21.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The company has a 50-day simple moving average of $188.00 and a two-hundred day simple moving average of $185.84. Alamo Group has a one year low of $157.07 and a one year high of $218.53.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.32. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The firm had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Research analysts expect that Alamo Group will post 9.53 EPS for the current fiscal 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 given a $0.30 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.55%. Alamo Group’s dividend payout ratio is currently 12.50%.

Insider Activity at Alamo Group

In related news, EVP Richard Hodges Raborn sold 500 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 12,948 shares in the company, valued at $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently bought and sold shares of ALG. Ninepoint Partners LP purchased a new stake in Alamo Group in the 1st quarter worth approximately $40,988,000. Bank of America Corp DE boosted its position 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 purchasing 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 approximately $16,971,000. Ameriprise Financial Inc. boosted its position 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 purchasing an additional 89,430 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position 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 purchasing an additional 74,679 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.