Alamo Group, Inc. (NYSE:ALG) Given Average Rating of “Moderate Buy” by Analysts

Alamo Group, Inc. (NYSE:ALG) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $224.00.

Several analysts have weighed in on the company. William Blair assumed coverage on Alamo Group in a research report on Monday, March 16th. They issued an “outperform” rating for the company. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, DA Davidson decreased their target price on Alamo Group from $190.00 to $188.00 and set a “neutral” rating for the company in a report on Monday, May 11th.

Alamo Group Stock Up 0.5%

Shares of ALG opened at $168.81 on Friday. The firm has a market cap of $2.05 billion, a P/E ratio of 20.19, a P/E/G ratio of 0.99 and a beta of 1.11. The stock has a 50 day simple moving average of $158.85 and a two-hundred day simple moving average of $174.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.32 and a quick ratio of 2.45. Alamo Group has a 1 year low of $145.76 and a 1 year high of $233.29.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.36. The business had revenue of $417.15 million during the quarter, compared to analyst estimates of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. On average, analysts forecast that Alamo Group will post 10.65 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, April 15th. Alamo Group’s dividend payout ratio is currently 16.27%.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ALG. Global Retirement Partners LLC raised its holdings in shares of Alamo Group by 136.2% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 177 shares in the last quarter. Jones Financial Companies Lllp raised its holdings 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 valued at $58,000 after acquiring an additional 314 shares in the last quarter. MAI Capital Management bought a new position in shares of Alamo Group during the third quarter valued at approximately $73,000. Kestra Advisory Services LLC bought a new position in shares of Alamo Group during the fourth quarter valued at approximately $76,000. Finally, State of Wyoming raised its holdings 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 valued at $79,000 after acquiring an additional 205 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

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.