Alamo Group Inc. (ALG) Hits New 12-Month High at $66.49
Alamo Group Inc. (NYSE:ALG) shares reached a new 52-week high during trading on Friday . The company traded as high as $66.49 and last traded at $65.93, with a volume of 33,062 shares changing hands. The stock had previously closed at $64.23.
A number of research firms recently commented on ALG. Zacks Investment Research downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a research report on Friday, April 1st. Piper Jaffray Cos. reissued an “overweight” rating and set a $68.00 price objective (down from $69.00) on shares of Alamo Group in a research report on Monday, March 28th. Finally, Bank of America Corp. reissued a “sell” rating and set a $54.00 price objective on shares of Alamo Group in a research report on Tuesday, May 24th.
The stock has a 50-day moving average of $62.24 and a 200 day moving average of $56.08. The firm has a market cap of $745.02 million and a P/E ratio of 16.84.
Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. On average, analysts anticipate that Alamo Group Inc. will post $4.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.55%.
In other news, VP Richard J. Wehrle sold 2,100 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $60.41, for a total transaction of $126,861.00. Following the transaction, the vice president now directly owns 9,149 shares of the company’s stock, valued at $552,691.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert H. George sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $60.40, for a total transaction of $181,200.00. Following the transaction, the vice president now directly owns 11,484 shares in the company, valued at $693,633.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Alamo Group stock. Hodges Capital Management Inc. boosted its position in Alamo Group Inc. (NYSE:ALG) by 5.6% during the fourth quarter, Holdings Channel reports. The fund owned 367,101 shares of the company’s stock after buying an additional 19,560 shares during the period. Hodges Capital Management Inc. owned approximately 3.21% of Alamo Group worth $19,126,000 at the end of the most recent quarter.
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
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