Alamo Group (NYSE:ALG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

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

Alamo Group Trading Down 0.6 %

NYSE ALG opened at $198.52 on Wednesday. The stock has a 50-day simple moving average of $210.10 and a 200 day simple moving average of $199.62. The company has a market capitalization of $2.39 billion, a PE ratio of 17.48 and a beta of 1.04. The company has a current ratio of 3.76, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). The company had revenue of $417.54 million during the quarter. Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. Research analysts forecast that Alamo Group will post 13.17 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Alamo Group’s dividend payout ratio (DPR) is currently 9.15%.

Insiders Place Their Bets

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the sale, the executive vice president now directly owns 19,206 shares in the company, valued at $4,299,647.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Alamo Group during the third quarter worth about $1,293,000. Commonwealth Equity Services LLC boosted its position in shares of Alamo Group by 1.7% during the third quarter. Commonwealth Equity Services LLC now owns 10,765 shares of the industrial products company’s stock worth $1,861,000 after buying an additional 184 shares during the period. Shaker Investments LLC OH boosted its position in shares of Alamo Group by 79.8% during the third quarter. Shaker Investments LLC OH now owns 2,785 shares of the industrial products company’s stock worth $481,000 after buying an additional 1,236 shares during the period. Strs Ohio boosted its position in shares of Alamo Group by 12.9% during the third quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock worth $8,020,000 after buying an additional 5,300 shares during the period. Finally, TIAA Trust National Association acquired a new position in Alamo Group during the third quarter valued at approximately $257,000. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Company Profile

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.