Analysts Set Alamo Group, Inc. (NYSE:ALG) Price Target at $222.33

Alamo Group, Inc. (NYSE:ALG) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $222.3333.

Several equities research analysts have issued reports on the company. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Wall Street Zen cut shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Finally, DA Davidson cut their price objective on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th.

Insiders Place Their Bets

In other Alamo Group news, CEO Robert Paul Hureau acquired 600 shares of Alamo Group stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $167.77 per share, for a total transaction of $100,662.00. Following the purchase, the chief executive officer directly owned 11,588 shares in the company, valued at approximately $1,944,118.76. This represents a 5.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have acquired a total of 1,058 shares of company stock valued at $175,209 over the last ninety days. 1.18% of the stock is currently owned by company insiders.

Institutional Trading of Alamo Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of Alamo Group by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 1,947 shares of the industrial products company’s stock worth $425,000 after acquiring an additional 45 shares during the period. Natixis Advisors LLC increased its holdings in shares of Alamo Group by 0.4% during the third quarter. Natixis Advisors LLC now owns 15,926 shares of the industrial products company’s stock worth $3,040,000 after buying an additional 61 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its holdings in shares of Alamo Group by 1.5% during the third quarter. Hudson Edge Investment Partners Inc. now owns 4,372 shares of the industrial products company’s stock worth $835,000 after purchasing an additional 65 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Alamo Group by 4.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,649 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 73 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in Alamo Group by 3.2% during the 3rd quarter. Amalgamated Bank now owns 3,054 shares of the industrial products company’s stock worth $583,000 after buying an additional 94 shares during the period. 92.36% of the stock is owned by institutional investors.

Alamo Group Price Performance

Shares of ALG opened at $183.26 on Friday. The stock has a market cap of $2.22 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.02 and a beta of 1.12. Alamo Group has a 1 year low of $156.29 and a 1 year high of $233.29. The stock’s 50-day moving average price is $169.24 and its two-hundred day moving average price is $194.83. The company has a current ratio of 4.43, a quick ratio of 2.72 and a debt-to-equity ratio of 0.17.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.27). The firm had revenue of $420.04 million during the quarter, compared to analyst estimates of $407.55 million. Alamo Group had a net margin of 7.20% and a return on equity of 11.11%. On average, equities analysts predict that Alamo Group will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Friday, January 16th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. Alamo Group’s dividend payout ratio is 12.45%.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.