Alamo Group (NYSE:ALG) Receives Neutral Rating from DA Davidson

DA Davidson restated their neutral rating on shares of Alamo Group (NYSE:ALG) in a research note released on Wednesday,Benzinga reports. They currently have a $190.00 target price on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a report on Friday, March 27th. Zacks Research downgraded Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Finally, William Blair initiated coverage on Alamo Group in a report on Monday, March 16th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Alamo Group Price Performance

NYSE ALG opened at $168.51 on Wednesday. The stock’s 50-day moving average price is $177.52 and its two-hundred day moving average price is $179.42. The company has a current ratio of 4.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.04 billion, a PE ratio of 19.62, a PEG ratio of 1.04 and a beta of 1.20. Alamo Group has a 1 year low of $156.29 and a 1 year high of $233.29.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.36). The company had revenue of $373.65 million for the quarter, compared to analyst estimates of $405.18 million. Alamo Group had a return on equity of 10.04% and a net margin of 6.47%. On average, analysts predict that Alamo Group will post 10.32 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a $0.34 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. Alamo Group’s dividend payout ratio is currently 15.83%.

Insider Activity

In other news, EVP Edward Rizzuti sold 600 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $170.93, for a total value of $102,558.00. Following the transaction, the executive vice president owned 10,857 shares in the company, valued at $1,855,787.01. This represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nina C. Grooms sold 499 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total value of $87,419.81. Following the completion of the transaction, the director owned 2,844 shares in the company, valued at $498,240.36. This represents a 14.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

Institutional investors have recently modified their holdings of the stock. AlphaQuest LLC acquired a new stake in shares of Alamo Group during the 3rd quarter valued at $3,324,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Alamo Group by 9.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock valued at $113,562,000 after buying an additional 57,456 shares during the period. Tributary Capital Management LLC boosted its stake in shares of Alamo Group by 92.5% during the 3rd quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock valued at $38,895,000 after buying an additional 97,898 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Alamo Group during the 3rd quarter valued at $1,193,000. Finally, Public Sector Pension Investment Board boosted its stake in shares of Alamo Group by 18.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 42,083 shares of the industrial products company’s stock valued at $8,034,000 after buying an additional 6,675 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Company Profile

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.