TheStreet upgraded shares of Alamo Group (NYSE:ALG – Get Rating) from a c+ rating to a b- rating in a report released on Thursday, TheStreetRatingsTable reports.
ALG has been the subject of several other research reports. StockNews.com raised shares of Alamo Group from a hold rating to a buy rating in a research note on Friday, August 5th. DA Davidson boosted their price target on shares of Alamo Group to $136.00 in a research note on Tuesday, August 9th.
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Alamo Group Price Performance
Shares of NYSE:ALG opened at $133.10 on Thursday. The company has a 50 day moving average of $124.90 and a 200 day moving average of $128.96. The stock has a market cap of $1.59 billion, a P/E ratio of 18.93 and a beta of 0.99. Alamo Group has a 12 month low of $108.35 and a 12 month high of $160.71. The company has a current ratio of 3.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.48.
Alamo Group (NYSE:ALG – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.06 by $0.33. Alamo Group had a net
margin of 5.84% and a return on equity of 12.03%. During the same quarter in the previous year, the company earned $1.97 earnings per share. As a group, sell-side analysts forecast that Alamo Group will post 8.61 EPS for the current fiscal year.
Alamo Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 18th were paid a $0.18 dividend. The ex-dividend date was Friday, July 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.54%. Alamo Group's dividend payout ratio is presently 10.24%.
Insiders Place Their Bets
In other news, EVP Richard Hodges Raborn sold 1,553 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $136.55, for a total value of $212,062.15. Following the completion of the sale, the executive vice president now directly owns 8,710 shares in the company, valued at approximately $1,189,350.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Richard Hodges Raborn sold 1,553 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $136.55, for a total value of $212,062.15. Following the completion of the sale, the executive vice president now directly owns 8,710 shares in the company, valued at approximately $1,189,350.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert P. Bauer acquired 500 shares of the stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average price of $113.99 per share, with a total value of $56,995.00. Following the completion of the acquisition, the director now owns 7,561 shares in the company, valued at approximately $861,878.39. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company's stock.
Institutional Investors Weigh In On Alamo Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. bought a new stake in Alamo Group during the 2nd quarter valued at $27,000. Laurel Wealth Planning LLC purchased a new position in Alamo Group during the 1st quarter valued at $65,000. FMR LLC increased its position in Alamo Group by 17.4% during the 2nd quarter. FMR LLC now owns 701 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 104 shares during the period. KBC Group NV purchased a new position in Alamo Group during the 2nd quarter valued at $92,000. Finally, Captrust Financial Advisors increased its position in Alamo Group by 30.1% during the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company's stock valued at $139,000 after purchasing an additional 223 shares during the period. 91.33% of the stock is currently owned by institutional investors.
Alamo Group Company Profile
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Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.
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