Alamo Group (NYSE:ALG) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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

Alamo Group Stock Performance

NYSE:ALG opened at $202.34 on Tuesday. The company has a current ratio of 3.76, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $211.76 and a two-hundred day moving average price of $198.47. Alamo Group has a twelve month low of $157.74 and a twelve month high of $231.40. The company has a market capitalization of $2.44 billion, a P/E ratio of 17.81 and a beta of 1.04.

Alamo Group (NYSE:ALG) last posted its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The business had revenue of $417.54 million for the quarter. As a group, research analysts expect that Alamo Group will post 13.17 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, April 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Alamo Group’s dividend payout ratio is currently 9.15%.

Insiders Place Their Bets

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the sale, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently modified their holdings of ALG. Bank of New York Mellon Corp boosted its position in shares of Alamo Group by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 113,146 shares of the industrial products company’s stock worth $16,269,000 after acquiring an additional 1,193 shares during the last quarter. Citigroup Inc. boosted its position in shares of Alamo Group by 82.1% in the first quarter. Citigroup Inc. now owns 16,027 shares of the industrial products company’s stock worth $2,305,000 after acquiring an additional 7,226 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Alamo Group by 25.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,008 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 816 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Alamo Group by 4.1% in the first quarter. Bank of Montreal Can now owns 4,296 shares of the industrial products company’s stock worth $640,000 after acquiring an additional 171 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Alamo Group in the first quarter worth approximately $1,136,000. 92.36% of the stock is owned by institutional investors and hedge funds.

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.