Shares of Alamo Group, Inc. (NYSE:ALG) have been assigned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.

Analysts have set a 1-year consensus target price of $98.00 for the company and are expecting that the company will post $0.83 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alamo Group an industry rank of 119 out of 265 based on the ratings given to its competitors.

ALG has been the topic of several research reports. Zacks Investment Research lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Piper Jaffray Companies reissued a “buy” rating and set a $90.00 price objective on shares of Alamo Group in a research note on Friday, July 14th. BidaskClub downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, ValuEngine upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.

In other news, EVP Richard Hodges Raborn sold 364 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the transaction, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at $414,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Geoff Davies sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $98.16, for a total transaction of $392,640.00. Following the transaction, the vice president now directly owns 3,800 shares of the company’s stock, valued at $373,008. The disclosure for this sale can be found here. Corporate insiders own 3.99% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALG. BlackRock Inc. raised its holdings in shares of Alamo Group by 1,076.3% during the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock valued at $97,174,000 after purchasing an additional 1,167,004 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Alamo Group by 226.2% during the third quarter. American Century Companies Inc. now owns 73,931 shares of the industrial products company’s stock valued at $7,938,000 after purchasing an additional 51,270 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alamo Group by 9.0% during the first quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock valued at $37,828,000 after purchasing an additional 41,187 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Alamo Group by 69.9% during the second quarter. Ameriprise Financial Inc. now owns 95,920 shares of the industrial products company’s stock valued at $8,711,000 after purchasing an additional 39,455 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Alamo Group by 80.9% during the second quarter. Prudential Financial Inc. now owns 62,659 shares of the industrial products company’s stock valued at $5,690,000 after purchasing an additional 28,030 shares during the last quarter. 90.32% of the stock is owned by hedge funds and other institutional investors.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.24 by $0.16. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. The business had revenue of $240.46 million for the quarter, compared to analyst estimates of $223.40 million.

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Monday, October 16th were paid a $0.10 dividend. The ex-dividend date was Friday, October 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. Alamo Group’s dividend payout ratio is presently 9.59%.

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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. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.

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