Alamo Group Inc. (ALG) Hits New 1-Year High at $66.53
Alamo Group Inc. (NYSE:ALG)’s share price reached a new 52-week high on Monday . The stock traded as high as $66.53 and last traded at $66.07, with a volume of 18,953 shares trading hands. The stock had previously closed at $66.03.
Several research firms have weighed in on ALG. Zacks Investment Research downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 22nd. Bank of America Corp. restated a “sell” rating and set a $54.00 target price on shares of Alamo Group in a report on Tuesday, May 24th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $68.00 target price (down from $69.00) on shares of Alamo Group in a report on Monday, March 28th.
The company has a 50 day moving average price of $63.15 and a 200 day moving average price of $56.48. The stock has a market capitalization of $757.49 million and a price-to-earnings ratio of 17.12.
Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. Analysts predict that Alamo Group Inc. will post $4.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, July 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.55%.
In other news, VP Robert H. George sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $60.40, for a total transaction of $181,200.00. Following the completion of the transaction, the vice president now owns 11,484 shares in the company, valued at $693,633.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Geoff Davies sold 5,000 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $65.87, for a total transaction of $329,350.00. Following the completion of the sale, the vice president now directly owns 17,500 shares of the company’s stock, valued at approximately $1,152,725. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Alamo Group stock. Hodges Capital Management Inc. increased its stake in Alamo Group Inc. (NYSE:ALG) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.
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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