Alamo Group, Inc. (ALG) Downgraded to Sell at Zacks Investment Research
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. “
Shares of Alamo Group (NYSE:ALG) opened at 77.01 on Wednesday. Alamo Group has a 52-week low of $52.82 and a 52-week high of $79.59. The stock’s 50 day moving average is $76.18 and its 200-day moving average is $71.62. The firm has a market capitalization of $886.69 million, a P/E ratio of 22.26 and a beta of 0.92.
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Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Tuesday, March 7th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by $0.08. Alamo Group had a net margin of 5.08% and a return on equity of 11.57%. On average, equities analysts forecast that Alamo Group will post $3.88 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of Alamo Group by 8.3% in the third quarter. BlackRock Fund Advisors now owns 675,633 shares of the company’s stock worth $44,517,000 after buying an additional 51,789 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Alamo Group by 8.0% in the third quarter. Victory Capital Management Inc. now owns 622,099 shares of the company’s stock worth $40,991,000 after buying an additional 45,816 shares in the last quarter. State Street Corp increased its stake in shares of Alamo Group by 9.4% in the fourth quarter. State Street Corp now owns 200,130 shares of the company’s stock worth $15,230,000 after buying an additional 17,223 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of Alamo Group by 0.5% in the third quarter. GW&K Investment Management LLC now owns 198,449 shares of the company’s stock worth $13,076,000 after buying an additional 900 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Alamo Group by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 117,286 shares of the company’s stock worth $7,729,000 after buying an additional 4,420 shares in the last quarter. 91.70% of the stock is 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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