Alamo Group Inc. (ALG) Trading Up 2.7%
Alamo Group Inc. (NYSE:ALG) shares were up 2.7% on Thursday . The company traded as high as $64.76 and last traded at $64.70, with a volume of 54,060 shares trading hands. The stock had previously closed at $62.99.
Several analysts have commented on ALG shares. 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 shares of Alamo Group from a “hold” rating to a “sell” rating in a research note on Friday, April 1st. 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 firm has a 50 day moving average price of $62.24 and a 200-day moving average price of $56.08. The firm has a market cap of $745.02 million and a PE ratio of 16.84.
Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. Analysts anticipate that Alamo Group Inc. will post $4.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.55%.
In related news, Director David W. Grzelak sold 4,102 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $62.41, for a total transaction of $256,005.82. Following the sale, the director now owns 176 shares in the company, valued at $10,984.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ronald A. Robinson sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $60.29, for a total transaction of $241,160.00. Following the sale, the chief executive officer now owns 202,575 shares in the company, valued at approximately $12,213,246.75. 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 filing with the Securities and Exchange Commission (SEC). The fund 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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