Alamo Group (NYSE:ALG) Price Target Cut to $217.00

Alamo Group (NYSE:ALG) had its target price decreased by Robert W. Baird from $223.00 to $217.00 in a report issued on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on the company. DA Davidson cut their target price on Alamo Group from $235.00 to $225.00 and set a buy rating for the company in a research report on Tuesday, May 7th. StockNews.com cut Alamo Group from a buy rating to a hold rating in a research note on Wednesday, July 17th.

Alamo Group Price Performance

Shares of Alamo Group stock opened at $172.99 on Friday. The company’s 50-day moving average price is $179.92 and its two-hundred day moving average price is $198.03. The company has a current ratio of 4.37, a quick ratio of 2.49 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.09 billion, a PE ratio of 15.58 and a beta of 1.04. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40.

Alamo Group (NYSE:ALG) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The firm had revenue of $416.30 million during the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same period last year, the firm earned $3.03 EPS. As a group, sell-side analysts anticipate that Alamo Group will post 12.3 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. Alamo Group’s payout ratio is 9.25%.

Hedge Funds Weigh In On Alamo Group

A number of large investors have recently made changes to their positions in ALG. Quadrature Capital Ltd increased its holdings in Alamo Group by 62.4% in the 4th quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock valued at $4,002,000 after purchasing an additional 7,311 shares during the last quarter. RK Capital Management LLC increased its position in Alamo Group by 81.2% during the fourth quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock worth $11,405,000 after purchasing an additional 24,310 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Alamo Group in the first quarter worth $1,067,000. Louisiana State Employees Retirement System purchased a new position in shares of Alamo Group in the fourth quarter valued at $1,093,000. Finally, Janus Henderson Group PLC lifted its position in shares of Alamo Group by 42.4% in the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after buying an additional 51,292 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

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.