Alamo Group Inc. (ALG) Stock Rating Upgraded by Zacks Investment Research
Alamo Group Inc. (NYSE:ALG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “
Separately, Piper Jaffray Cos. reiterated an “overweight” rating and set a $70.00 target price (up previously from $68.00) on shares of Alamo Group in a research note on Wednesday, August 10th.
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Alamo Group (NYSE:ALG) traded down 0.09% during trading on Monday, reaching $66.02. 25,718 shares of the company’s stock traded hands. Alamo Group has a 12 month low of $43.98 and a 12 month high of $68.04. The company has a 50-day moving average of $64.93 and a 200 day moving average of $61.71. The stock has a market capitalization of $759.10 million, a P/E ratio of 16.76 and a beta of 0.92.
Alamo Group (NYSE:ALG) last released its earnings results on Thursday, August 4th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.01 by $0.09. Alamo Group had a net margin of 5.16% and a return on equity of 12.34%. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $219.74 million. On average, equities research analysts expect that Alamo Group will post $3.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, October 12th. Alamo Group’s dividend payout ratio (DPR) is 9.14%.
In other news, VP Richard J. Wehrle sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $63.59, for a total transaction of $158,975.00. Following the completion of the transaction, the vice president now owns 11,649 shares of the company’s stock, valued at $740,759.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.63% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of Alamo Group during the second quarter valued at about $108,000. Mason Street Advisors LLC bought a new stake in Alamo Group during the second quarter valued at $121,000. BNP Paribas Arbitrage SA bought a new stake in Alamo Group during the second quarter valued at $193,000. Commerce Bank bought a new stake in Alamo Group during the second quarter valued at $201,000. Finally, BlackRock Group LTD increased its stake in Alamo Group by 45.0% in the first quarter. BlackRock Group LTD now owns 4,125 shares of the company’s stock valued at $230,000 after buying an additional 1,280 shares during the last quarter. 92.77% of the stock is owned by institutional investors.
Alamo Group Company Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
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