Alamo Group, Inc. (NYSE:ALG) Given Average Rating of “Moderate Buy” by Brokerages

Alamo Group, Inc. (NYSE:ALG) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $188.00.

Several analysts recently weighed in on ALG shares. Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. DA Davidson reaffirmed a “neutral” rating and set a $188.00 price objective on shares of Alamo Group in a research note on Wednesday, July 1st. Finally, Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th.

Alamo Group Stock Up 0.1%

Shares of ALG stock opened at $165.10 on Monday. Alamo Group has a 12 month low of $145.76 and a 12 month high of $227.07. The company has a 50 day simple moving average of $162.68 and a two-hundred day simple moving average of $171.30. The stock has a market cap of $2.01 billion, a P/E ratio of 19.80, a P/E/G ratio of 0.98 and a beta of 1.10. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The firm had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. On average, research analysts expect that Alamo Group will post 10.56 earnings per share for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group’s dividend payout ratio (DPR) is currently 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 dated Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the sale, the executive vice president directly owned 8,142 shares of the company’s stock, valued at $1,338,626.22. The trade was a 25.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.06% of the stock is currently owned by company insiders.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Freestone Grove Partners LP bought a new position in Alamo Group in the second quarter worth approximately $1,419,000. Man Group plc purchased a new position in shares of Alamo Group during the second quarter valued at $2,299,000. Jupiter Topco LLC bought a new stake in Alamo Group during the 2nd quarter valued at $28,617,000. Hsbc Holdings PLC purchased a new position in shares of Alamo Group in the 2nd quarter valued at $337,000. Finally, Legal & General Group Plc purchased a new position in shares of Alamo Group in the 2nd quarter valued at $4,134,000. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

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.