Alamo Group Inc. (ALG) Stock Price Up 2.7%
Alamo Group Inc. (NYSE:ALG) rose 2.7% during trading on Thursday . The company traded as high as $64.76 and last traded at $64.70, with a volume of 54,060 shares changing hands. The stock had previously closed at $62.99.
ALG has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Monday, April 25th. Bank of America Corp. restated a “sell” rating and set a $54.00 price objective on shares of Alamo Group in a research report on Tuesday, May 24th. 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 report on Monday, March 28th.
The company has a market cap of $734.73 million and a P/E ratio of 16.61. The firm’s 50-day moving average price is $62.01 and its 200 day moving average price is $56.00.
Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.73 by $0.02. Analysts expect that Alamo Group Inc. will post $4.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.56%.
In other news, VP Robert H. George sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $60.40, for a total value of $181,200.00. Following the completion of the sale, the vice president now owns 11,484 shares in the company, valued at approximately $693,633.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald A. Robinson sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $60.29, for a total transaction of $241,160.00. Following the completion of the sale, the chief executive officer now owns 202,575 shares of the company’s stock, valued at approximately $12,213,246.75. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Alamo Group stock. Hodges Capital Management Inc. raised its stake in shares of Alamo Group Inc. (NYSE:ALG) by 5.6% during the fourth quarter, Holdings Channel reports. 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 3.21% of Alamo Group worth $19,126,000 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.