Alamo Group (NYSE:ALG) Sets New 12-Month Low – Here’s What Happened

Alamo Group, Inc. (NYSE:ALG) hit a new 52-week low during mid-day trading on Friday. The company traded as low as $145.30 and last traded at $144.99, with a volume of 28,746 shares changing hands. The stock had previously closed at $147.23.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALG. Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $188.00 target price on shares of Alamo Group in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Alamo Group has a consensus rating of “Moderate Buy” and an average target price of $188.00.

Alamo Group Stock Performance

The company has a market cap of $1.78 billion, a PE ratio of 17.51, a P/E/G ratio of 0.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. The stock’s 50-day simple moving average is $161.75 and its 200 day simple moving average is $162.11.

Alamo Group (NYSE:ALG) last released its earnings results on Monday, August 3rd. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.74 by $0.08. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The company had revenue of $450.73 million during the quarter, compared to analysts’ expectations of $437.48 million. As a group, equities analysts anticipate that Alamo Group, Inc. will post 10.52 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Thursday, October 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Alamo Group’s dividend payout ratio (DPR) is 16.31%.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $164.41, for a total transaction of $446,373.15. Following the sale, the executive vice president directly owned 8,142 shares in the company, valued at approximately $1,338,626.22. The trade was a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Alamo Group in the second quarter valued at about $288,972,000. Jupiter Topco LLC purchased a new position in shares of Alamo Group during the 2nd quarter worth approximately $28,617,000. Copeland Capital Management LLC grew its holdings in Alamo Group by 189.3% during the 1st quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock valued at $29,936,000 after buying an additional 118,737 shares during the last quarter. Bank of America Corp DE purchased a new position in Alamo Group during the second quarter worth $17,437,000. Finally, Neumeier Poma Investment Counsel LLC purchased a new stake in Alamo Group during the 2nd quarter worth about $13,404,290. Institutional investors and hedge funds own 92.36% of the company’s stock.

About Alamo Group

Alamo Group Inc (NYSE: ALG) manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company’s product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.