Alamo Group (NYSE:ALG) Downgraded by StockNews.com

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

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

Alamo Group Stock Down 0.0 %

ALG stock opened at $193.99 on Monday. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The stock has a market capitalization of $2.34 billion, a PE ratio of 17.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29. The company has a fifty day moving average of $207.88 and a 200-day moving average of $200.97.

Alamo Group (NYSE:ALG) last released its earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.66 by $0.01. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The company had revenue of $425.59 million during the quarter. During the same quarter last year, the business posted $2.79 EPS. As a group, analysts expect that Alamo Group will post 13.17 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th were issued a $0.26 dividend. The ex-dividend date was Monday, April 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Alamo Group’s dividend payout ratio is presently 9.25%.

Insider Activity

In other news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,299,647.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Alamo Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after acquiring an additional 7,121 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Alamo Group by 1.0% during 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 acquiring an additional 3,827 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Alamo Group by 19.9% during 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 acquiring an additional 53,195 shares in the last quarter. Neumeier Poma Investment Counsel LLC increased its holdings in Alamo Group by 2.5% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 200,411 shares of the industrial products company’s stock valued at $34,643,000 after acquiring an additional 4,855 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in Alamo Group by 3.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 135,873 shares of the industrial products company’s stock valued at $23,487,000 after acquiring an additional 4,893 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

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.