Alamo Group Inc. (ALG) Upgraded at 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. reissued an “overweight” rating and issued a $70.00 price objective (up 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 midday trading on Monday, reaching $66.02. 25,718 shares of the company traded hands. Alamo Group has a 12 month low of $43.98 and a 12 month high of $68.04. The firm has a market capitalization of $759.10 million, a PE ratio of 16.76 and a beta of 0.92. The company’s 50-day moving average price is $64.93 and its 200 day moving average price is $61.71.
Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by $0.09. The firm earned $211.50 million during the quarter, compared to analyst estimates of $219.74 million. Alamo Group had a net margin of 5.16% and a return on equity of 12.34%. On average, equities analysts anticipate that Alamo Group will post $3.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, October 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.55%. Alamo Group’s dividend payout ratio (DPR) is presently 9.14%.
In other news, VP Richard J. Wehrle sold 2,500 shares of the company’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 transaction, the vice president now directly owns 11,649 shares of the company’s stock, valued at approximately $740,759.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.63% of the company’s stock.
Several institutional investors have recently bought and sold shares of ALG. Aperio Group LLC boosted its position in Alamo Group by 41.1% in the first quarter. Aperio Group LLC now owns 6,143 shares of the company’s stock worth $342,000 after buying an additional 1,788 shares during the period. National Investment Services Inc. WI bought a new position in Alamo Group during the second quarter worth $286,000. Louisiana State Employees Retirement System bought a new position in Alamo Group during the second quarter worth $277,000. GW&K Investment Management LLC bought a new position in Alamo Group during the second quarter worth $13,032,000. Finally, AXA acquired a new stake in Alamo Group during the first quarter valued at approximately $1,242,000. 92.77% of the stock is currently owned by institutional investors and hedge funds.
About Alamo Group
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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