Alamo Group (NYSE:ALG) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Alamo Group (NYSE:ALGGet Rating) from a hold rating to a buy rating in a research note released on Friday.

Separately, TheStreet downgraded shares of Alamo Group from a b- rating to a c+ rating in a research note on Thursday, May 19th.

Alamo Group Stock Performance

Alamo Group stock opened at $134.58 on Friday. Alamo Group has a 1-year low of $108.35 and a 1-year high of $160.71. The company’s 50-day moving average is $118.75 and its 200 day moving average is $129.59. The firm has a market capitalization of $1.61 billion, a P/E ratio of 19.14 and a beta of 0.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.95 and a quick ratio of 1.98.

Alamo Group (NYSE:ALGGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.33. Alamo Group had a return on equity of 12.03% and a net margin of 5.84%. During the same quarter in the previous year, the company posted $1.97 earnings per share. Research analysts forecast that Alamo Group will post 8.13 EPS for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 18th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, July 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.53%. Alamo Group’s dividend payout ratio is currently 10.24%.

Insider Activity at Alamo Group

In other news, Director Robert P. Bauer purchased 500 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was acquired at an average cost of $113.99 per share, with a total value of $56,995.00. Following the completion of the transaction, the director now owns 7,561 shares in the company, valued at approximately $861,878.39. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Alamo Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Alamo Group by 1.8% in the first quarter. BlackRock Inc. now owns 1,537,400 shares of the industrial products company’s stock worth $221,064,000 after purchasing an additional 27,896 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alamo Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 712,100 shares of the industrial products company’s stock valued at $102,392,000 after acquiring an additional 5,874 shares during the period. Victory Capital Management Inc. lifted its stake in Alamo Group by 8.9% during the 2nd quarter. Victory Capital Management Inc. now owns 654,918 shares of the industrial products company’s stock valued at $76,252,000 after acquiring an additional 53,258 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Alamo Group by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 602,070 shares of the industrial products company’s stock valued at $86,574,000 after acquiring an additional 8,298 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Alamo Group by 3.6% in the first quarter. State Street Corp now owns 335,966 shares of the industrial products company’s stock worth $48,309,000 after acquiring an additional 11,616 shares during the period. Hedge funds and other institutional investors own 91.33% of the company’s stock.

Alamo Group Company Profile

(Get Rating)

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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