Alamo Group, Inc. (NYSE:ALG) Receives $222.33 Consensus Target Price from Analysts

Shares of Alamo Group, Inc. (NYSE:ALG) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $222.3333.

ALG has been the topic of several recent analyst reports. DA Davidson reduced their target price on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its holdings in Alamo Group by 72.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 230,180 shares of the industrial products company’s stock worth $38,641,000 after acquiring an additional 96,369 shares during the last quarter. Invesco Ltd. raised its stake in shares of Alamo Group by 38.0% in the fourth quarter. Invesco Ltd. now owns 130,632 shares of the industrial products company’s stock worth $21,929,000 after acquiring an additional 35,974 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Alamo Group during the fourth quarter worth approximately $367,000. Mackenzie Financial Corp bought a new stake in shares of Alamo Group during the fourth quarter valued at approximately $247,000. Finally, Empowered Funds LLC increased its holdings in shares of Alamo Group by 23.5% in the fourth quarter. Empowered Funds LLC now owns 2,451 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 467 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

Alamo Group Stock Performance

NYSE:ALG opened at $213.51 on Monday. The firm has a market capitalization of $2.59 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13. The company has a quick ratio of 2.72, a current ratio of 4.43 and a debt-to-equity ratio of 0.17. Alamo Group has a 12-month low of $156.29 and a 12-month high of $233.29. The firm has a 50-day moving average price of $193.64 and a 200 day moving average price of $189.73.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. Alamo Group’s dividend payout ratio (DPR) is currently 14.11%.

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.