Alamo Group Inc. (ALG) Hits New 1-Year High at $66.49
Alamo Group Inc. (NYSE:ALG) shares reached a new 52-week high on Friday . The company traded as high as $66.49 and last traded at $65.93, with a volume of 33,062 shares changing hands. The stock had previously closed at $64.23.
Several research firms have commented on ALG. Zacks Investment Research lowered shares of Alamo Group from a “hold” rating to a “sell” rating in a research note on Monday, April 25th. Bank of America Corp. reaffirmed a “sell” rating and set a $54.00 price objective on shares of Alamo Group in a research note on Tuesday, May 24th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $68.00 price objective (down from $69.00) on shares of Alamo Group in a research note on Monday, March 28th.
The company has a 50-day moving average of $62.01 and a 200-day moving average of $56.00. The stock has a market capitalization of $745.14 million and a P/E ratio of 16.84.
Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, May 5th. The company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. On average, equities research analysts anticipate that Alamo Group Inc. will post $4.14 EPS 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 paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, July 13th.
In other news, VP Robert H. George sold 400 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $64.00, for a total transaction of $25,600.00. Following the completion of the transaction, the vice president now directly owns 16,084 shares of the company’s stock, valued at approximately $1,029,376. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric Etchart bought 1,000 shares of Alamo Group stock in a transaction dated Tuesday, June 28th. The shares were acquired at an average cost of $58.84 per share, with a total value of $58,840.00. Following the completion of the purchase, the director now owns 3,852 shares in the company, valued at $226,651.68. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Alamo Group stock. Victory Capital Management Inc. raised its stake in Alamo Group Inc. (NYSE:ALG) by 17,816.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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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