Alamo Group Inc. (ALG) Reaches New 52-Week High at $68.04
Alamo Group Inc. (NYSE:ALG) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $68.04 and last traded at $67.88, with a volume of 34,188 shares traded. The stock had previously closed at $66.49.
ALG has been the topic of several recent analyst reports. 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 cut Alamo Group from a “hold” rating to a “sell” rating in a research note on Friday, April 1st. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $68.00 price objective (down previously from $69.00) on shares of Alamo Group in a research note on Monday, March 28th.
The stock’s 50 day moving average is $63.97 and its 200 day moving average is $57.15. The stock has a market cap of $771.33 million and a PE ratio of 17.43.
Alamo Group (NYSE:ALG) last issued 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. On average, equities 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. Shareholders 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 yield of 0.53%.
In other news, VP Robert H. George sold 400 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $64.00, for a total transaction of $25,600.00. Following the transaction, the vice president now directly owns 16,084 shares in the company, valued at approximately $1,029,376. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert H. George sold 3,000 shares of the business’s stock in a transaction dated 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 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 stake in Alamo Group Inc. (NYSE:ALG) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 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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