Alamo Group (NYSE:ALG) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a research note published on Monday.

Separately, DA Davidson boosted their price target on shares of Alamo Group from $230.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, February 27th.

Alamo Group Stock Down 0.4 %

Shares of NYSE ALG opened at $193.25 on Monday. The business has a 50-day simple moving average of $208.22 and a two-hundred day simple moving average of $200.81. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The company has a market cap of $2.33 billion, a P/E ratio of 17.19 and a beta of 1.07. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. The company had revenue of $425.59 million during the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same quarter last year, the business posted $2.79 earnings per share. Research analysts anticipate that Alamo Group will post 13.17 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Tuesday, April 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, April 15th. Alamo Group’s dividend payout ratio (DPR) is 9.25%.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. raised its holdings in shares of Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after buying an additional 47 shares in the last quarter. Shaker Investments LLC OH raised its stake in shares of Alamo Group by 1.5% during the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock worth $911,000 after acquiring an additional 58 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Alamo Group by 0.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock worth $1,592,000 after acquiring an additional 72 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Alamo Group by 5.2% in the 1st quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 72 shares in the last quarter. Finally, Private Advisory Group LLC grew its holdings in shares of Alamo Group by 2.6% during the 3rd quarter. Private Advisory Group LLC now owns 3,165 shares of the industrial products company’s stock valued at $547,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

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.