Nina Grooms Sells 499 Shares of Alamo Group (NYSE:ALG) Stock

Alamo Group, Inc. (NYSE:ALG) Director Nina Grooms sold 499 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total transaction of $87,419.81. Following the completion of the sale, the director directly owned 2,844 shares in the company, valued at approximately $498,240.36. This represents a 14.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alamo Group Stock Performance

Shares of ALG opened at $170.82 on Friday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.06 and a beta of 1.11. Alamo Group, Inc. has a 12 month low of $156.29 and a 12 month high of $233.29. The firm has a fifty day simple moving average of $194.88 and a 200 day simple moving average of $186.66. The company has a current ratio of 4.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.17.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.36). Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. The business had revenue of $373.65 million during the quarter, compared to analyst estimates of $405.18 million. Research analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were given a $0.34 dividend. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s dividend payout ratio (DPR) is presently 15.83%.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ALG. Vanguard Group Inc. raised its stake in Alamo Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company’s stock valued at $134,000,000 after buying an additional 12,499 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Alamo Group by 9.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock valued at $113,562,000 after buying an additional 57,456 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Alamo Group by 7.4% during the 4th quarter. Victory Capital Management Inc. now owns 462,758 shares of the industrial products company’s stock worth $77,683,000 after acquiring an additional 31,860 shares during the period. First Trust Advisors LP boosted its stake in shares of Alamo Group by 13.1% during the 4th quarter. First Trust Advisors LP now owns 445,105 shares of the industrial products company’s stock worth $74,720,000 after acquiring an additional 51,618 shares during the period. Finally, State Street Corp increased its holdings in shares of Alamo Group by 1.3% during the 4th quarter. State Street Corp now owns 409,570 shares of the industrial products company’s stock worth $68,755,000 after acquiring an additional 5,153 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALG shares. Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. DA Davidson reiterated a “neutral” rating and set a $190.00 price objective on shares of Alamo Group in a research note on Monday. CJS Securities raised Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $225.00.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.