Alamo Group, Inc. (NYSE:ALG) Receives $222.33 Consensus Price Target from Analysts

Alamo Group, Inc. (NYSE:ALG) has received an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given 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.

A number of brokerages have recently issued reports on ALG. CJS Securities upgraded shares of Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research downgraded Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. DA Davidson decreased their price objective on Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 29th.

Alamo Group Price Performance

Shares of ALG stock opened at $186.92 on Friday. Alamo Group has a 52 week low of $156.29 and a 52 week high of $233.29. The stock has a market capitalization of $2.26 billion, a PE ratio of 19.39, a PEG ratio of 1.02 and a beta of 1.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.72 and a current ratio of 4.43. The stock’s fifty day moving average is $169.49 and its 200-day moving average is $194.69.

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

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Friday, January 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio is currently 12.45%.

Insider Activity

In other Alamo Group news, CEO Robert Paul Hureau purchased 600 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $167.77 per share, for a total transaction of $100,662.00. Following the transaction, the chief executive officer directly owned 11,588 shares in the company, valued at $1,944,118.76. This represents a 5.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 1,058 shares of company stock valued at $175,209. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ALG. Tudor Investment Corp ET AL raised its position in shares of Alamo Group by 359.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 6,188 shares of the industrial products company’s stock valued at $1,181,000 after acquiring an additional 4,842 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Alamo Group during the third quarter worth $211,000. NewEdge Advisors LLC bought a new stake in Alamo Group in the third quarter valued at about $310,000. CANADA LIFE ASSURANCE Co lifted its stake in Alamo Group by 2.6% in the third 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 period. Finally, Wasatch Advisors LP lifted its stake in Alamo Group by 38.5% in the third quarter. Wasatch Advisors LP now owns 326,051 shares of the industrial products company’s stock valued at $62,243,000 after buying an additional 90,556 shares during the period. 92.36% of the stock is owned by institutional investors.

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.