Alamo Group, Inc. (NYSE:ALG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Alamo Group, Inc. (NYSE:ALG) has been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $222.3333.

A number of research analysts recently weighed in on ALG shares. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. DA Davidson reduced their target price on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th.

Insider Activity at Alamo Group

In other news, CEO Robert Paul Hureau purchased 304 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average cost of $163.48 per share, with a total value of $49,697.92. Following the purchase, the chief executive officer owned 12,046 shares in the company, valued at approximately $1,969,280.08. This trade represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Global Retirement Partners LLC raised its holdings in shares of Alamo Group by 136.2% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after buying an additional 177 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares during the last quarter. MAI Capital Management purchased a new stake in shares of Alamo Group during the third quarter valued at $73,000. Kestra Advisory Services LLC bought a new stake in Alamo Group during the 4th quarter valued at about $76,000. Finally, State of Wyoming increased its position in shares of Alamo Group by 76.5% during the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Performance

NYSE ALG opened at $213.80 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.43 and a quick ratio of 2.72. Alamo Group has a 1-year low of $156.29 and a 1-year high of $233.29. The business has a 50 day simple moving average of $189.76 and a two-hundred day simple moving average of $189.55. The stock has a market capitalization of $2.59 billion, a PE ratio of 22.18, a P/E/G ratio of 1.19 and a beta of 1.13.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were paid a $0.34 dividend. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s payout ratio is currently 14.11%.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.