Alamo Group (NYSE:ALG) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, DA Davidson upped their price objective on Alamo Group from $230.00 to $235.00 and gave the stock a buy rating in a research report on Tuesday, February 27th.

Alamo Group Price Performance

Shares of NYSE ALG opened at $205.02 on Tuesday. The stock’s 50-day moving average is $212.08 and its two-hundred day moving average is $198.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 18.05 and a beta of 1.04.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.22). The company had revenue of $417.54 million for the quarter. Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. Analysts forecast that Alamo Group will post 13.17 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, April 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Alamo Group’s dividend payout ratio is currently 9.15%.

Insider Activity at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the sale, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Alamo Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 403,017 shares of the industrial products company’s stock valued at $92,021,000 after purchasing an additional 3,827 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Alamo Group by 19.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock valued at $73,223,000 after purchasing an additional 53,195 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Alamo Group in the 1st quarter valued at about $12,844,000. Diversified Trust Co raised its stake in Alamo Group by 5.2% during the 1st quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 72 shares during the last quarter. Finally, Guidance Capital Inc. raised its stake in Alamo Group by 29.8% during the 1st quarter. Guidance Capital Inc. now owns 2,087 shares of the industrial products company’s stock valued at $449,000 after acquiring an additional 479 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.