Alamo Group Inc. (ALG) Trading 1.7% Higher
Alamo Group Inc. (NYSE:ALG) shares traded up 1.7% during mid-day trading on Tuesday . The stock traded as high as $67.32 and last traded at $67.27, with a volume of 54,459 shares. The stock had previously closed at $66.15.
Several research analysts have recently issued reports on the stock. Bank of America Corp. restated a “sell” rating and issued a $54.00 target price on shares of Alamo Group in a report on Tuesday, May 24th. Zacks Investment Research upgraded shares of Alamo Group from a “sell” rating to a “hold” rating in a report on Monday, April 18th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $68.00 target price (down previously 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 $63.30 and a 200 day moving average price of $56.62. The firm has a market capitalization of $765.15 million and a P/E ratio of 17.29.
Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. On average, equities research analysts expect that Alamo Group Inc. will post $4.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%.
In related news, VP Geoff Davies sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $65.87, for a total value of $329,350.00. Following the transaction, the vice president now directly owns 17,500 shares of the company’s stock, valued at approximately $1,152,725. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Dan Edward Malone sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $64.65, for a total value of $90,510.00. Following the completion of the transaction, the chief financial officer now directly owns 11,332 shares in the company, valued at $732,613.80. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Alamo Group stock. Victory Capital Management Inc. boosted its stake in Alamo Group Inc. (NYSE:ALG) by 17,816.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 284,336 shares of the company’s stock after buying an additional 282,749 shares during the period. Victory Capital Management Inc. owned approximately 2.49% of Alamo Group worth $14,814,000 as of its most recent filing with the SEC.
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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