Alamo Group, Inc. (NYSE:ALG) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Zacks has also assigned Alamo Group an industry rank of 219 out of 255 based on the ratings given to its competitors.
Separately, Sidoti raised Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 price target for the company in a research report on Wednesday, October 24th.
ALG traded up $0.72 on Tuesday, reaching $86.62. 201 shares of the stock were exchanged, compared to its average volume of 52,750. Alamo Group has a fifty-two week low of $72.50 and a fifty-two week high of $119.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.60 and a current ratio of 4.27. The stock has a market cap of $1.01 billion, a P/E ratio of 15.48 and a beta of 0.83.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 29th. Shareholders of record on Thursday, January 17th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 16th. This represents a $0.48 dividend on an annualized basis and a yield of 0.55%. This is a boost from Alamo Group’s previous quarterly dividend of $0.11.
In other news, Director Roderick R. Baty purchased 2,000 shares of the stock in a transaction on Friday, December 14th. The stock was bought at an average price of $76.32 per share, with a total value of $152,640.00. Following the transaction, the director now owns 18,104 shares in the company, valued at approximately $1,381,697.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.48% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. NWQ Investment Management Company LLC purchased a new position in shares of Alamo Group during the 3rd quarter valued at about $27,166,000. PNC Financial Services Group Inc. raised its stake in shares of Alamo Group by 50.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 347,386 shares of the industrial products company’s stock valued at $31,824,000 after buying an additional 115,910 shares during the last quarter. Royce & Associates LP raised its stake in shares of Alamo Group by 73.2% during the 3rd quarter. Royce & Associates LP now owns 174,278 shares of the industrial products company’s stock valued at $15,966,000 after buying an additional 73,632 shares during the last quarter. Cambiar Investors LLC purchased a new position in shares of Alamo Group during the 4th quarter valued at about $3,716,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Alamo Group during the 2nd quarter valued at about $4,093,000. 94.87% of the stock is owned by institutional investors.
About Alamo Group
Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.
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