Alamo Group (NYSE:ALG) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a research report report published on Saturday.

Several other brokerages have also commented on ALG. Baird R W upgraded Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and increased their price target for the company from $209.00 to $260.00 in a research note on Monday, August 4th. DA Davidson reissued a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Alamo Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.00.

Alamo Group Stock Performance

ALG stock opened at $166.60 on Friday. Alamo Group has a one year low of $157.07 and a one year high of $233.29. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 0.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The firm has a 50-day simple moving average of $191.62 and a two-hundred day simple moving average of $202.91.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.61 by ($0.27). The firm had revenue of $420.04 million for the quarter, compared to the consensus estimate of $407.55 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. On average, equities analysts forecast that Alamo Group will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is presently 12.45%.

Insider Activity at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total value of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares in the company, valued at $8,534,984.47. This represents a 6.11% 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. 1.18% of the stock is owned by company insiders.

Institutional Trading of Alamo Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Alamo Group by 1.2% in the third quarter. Vanguard Group Inc. now owns 785,735 shares of the industrial products company’s stock worth $149,997,000 after acquiring an additional 9,571 shares during the period. Victory Capital Management Inc. boosted its holdings in Alamo Group by 12.9% in the first quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company’s stock valued at $90,320,000 after purchasing an additional 58,097 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Alamo Group by 22.9% during 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 during the period. First Trust Advisors LP grew its position in Alamo Group by 28.6% during the 2nd quarter. First Trust Advisors LP now owns 384,190 shares of the industrial products company’s stock worth $83,899,000 after purchasing an additional 85,478 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Alamo Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 243,470 shares of the industrial products company’s stock valued at $53,176,000 after buying an additional 4,927 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.