Alamo Group Inc. (ALG) Hits New 12-Month High at $66.53
Shares of Alamo Group Inc. (NYSE:ALG) reached a new 52-week high on Monday . The company traded as high as $66.53 and last traded at $66.07, with a volume of 18,953 shares traded. The stock had previously closed at $66.03.
A number of equities analysts recently issued reports on the stock. Bank of America Corp. reiterated a “sell” rating and issued a $54.00 price target on shares of Alamo Group in a research note on Tuesday, May 24th. Zacks Investment Research upgraded shares of Alamo Group from a “sell” rating to a “hold” rating in a research note on Monday, April 18th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $68.00 price target (down previously from $69.00) on shares of Alamo Group in a research note on Monday, March 28th.
The company has a market cap of $764.01 million and a price-to-earnings ratio of 17.27. The stock’s 50-day moving average is $63.40 and its 200-day moving average is $56.70.
Alamo Group (NYSE:ALG) last released its earnings results on Thursday, May 5th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.02. On average, equities analysts forecast that Alamo Group Inc. will post $4.14 earnings per share for the current fiscal year.
The firm also recently announced 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 0.54%.
In other news, VP Geoff Davies sold 5,000 shares of the firm’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $65.87, for a total transaction of $329,350.00. Following the transaction, the vice president now owns 17,500 shares in the company, valued at $1,152,725. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert H. George sold 400 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $64.00, for a total value of $25,600.00. Following the transaction, the vice president now owns 16,084 shares in the company, valued at approximately $1,029,376. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Alamo Group stock. Victory Capital Management Inc. boosted its stake in shares of Alamo Group Inc. (NYSE:ALG) by 17,816.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,336 shares of the company’s stock after buying an additional 282,749 shares during the period. Victory Capital Management Inc. owned 2.49% of Alamo Group worth $14,814,000 as of its most recent SEC filing.
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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