StockNews.com upgraded shares of Alamo Group (NYSE:ALG – Free Report) from a hold rating to a buy rating in a research note released on Tuesday morning.
Separately, DA Davidson decreased their price target on shares of Alamo Group from $235.00 to $225.00 and set a buy rating on the stock in a research report on Tuesday, May 7th.
Read Our Latest Research Report on ALG
Alamo Group Stock Up 0.1 %
Alamo Group (NYSE:ALG – Get Free Report) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. The company had revenue of $425.59 million for the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same quarter last year, the company earned $2.79 EPS. Research analysts anticipate that Alamo Group will post 12.3 EPS for the current year.
Alamo Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. Alamo Group’s dividend payout ratio (DPR) is presently 9.25%.
Institutional Trading of Alamo Group
A number of hedge funds and other institutional investors have recently modified their holdings of ALG. Allspring Global Investments Holdings LLC increased its stake in shares of Alamo Group by 42.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock worth $83,906,000 after purchasing an additional 119,636 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Alamo Group during the first quarter valued at $12,844,000. Vaughan Nelson Investment Management L.P. grew its stake in Alamo Group by 19.9% during the first 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. Janus Henderson Group PLC grew its stake in Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock valued at $39,346,000 after acquiring an additional 51,292 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in Alamo Group by 301.3% during the first quarter. Epoch Investment Partners Inc. now owns 52,455 shares of the industrial products company’s stock valued at $11,977,000 after acquiring an additional 39,384 shares in the last quarter. 92.36% of the stock is 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.
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