Alamo Group Inc. (ALG) Upgraded at Zacks Investment Research
According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “
Separately, Piper Jaffray Cos. reissued an overweight rating and set a $70.00 target price (up from $68.00) on shares of Alamo Group in a research note on Wednesday, August 10th.
Shares of Alamo Group (NYSE:ALG) opened at 65.24 on Monday. The firm has a market cap of $750.13 million, a PE ratio of 16.57 and a beta of 0.92. The stock’s 50 day moving average price is $64.87 and its 200 day moving average price is $61.91. Alamo Group has a 12-month low of $44.28 and a 12-month high of $68.04.
Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, August 4th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by $0.09. Alamo Group had a net margin of 5.16% and a return on equity of 12.34%. The firm had revenue of $211.50 million for the quarter, compared to analyst estimates of $219.74 million. On average, equities research analysts predict that Alamo Group will post $3.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, October 12th. Alamo Group’s dividend payout ratio is currently 9.14%.
In other news, VP Richard J. Wehrle sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $63.59, for a total transaction of $158,975.00. Following the transaction, the vice president now directly owns 11,649 shares in the company, valued at approximately $740,759.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.63% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in shares of Alamo Group during the second quarter worth about $108,000. Mason Street Advisors LLC acquired a new stake in shares of Alamo Group during the second quarter worth about $121,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Alamo Group during the second quarter worth about $193,000. Commerce Bank acquired a new stake in shares of Alamo Group during the second quarter worth about $201,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Alamo Group during the second quarter worth about $237,000. Institutional investors and hedge funds own 92.77% of the company’s stock.
Alamo Group Company Profile
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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