Alamo Group (NYSE:ALG) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other research analysts also recently weighed in on the company. Baird R W downgraded Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird downgraded Alamo Group from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $224.00 to $177.00 in a research note on Friday, February 28th. Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a research note on Monday, March 3rd. Finally, DA Davidson cut their price objective on Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday, April 21st.

Alamo Group Stock Down 0.4%

ALG opened at $212.14 on Friday. Alamo Group has a fifty-two week low of $157.07 and a fifty-two week high of $214.13. The business has a 50-day moving average of $186.84 and a 200-day moving average of $185.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The company has a market capitalization of $2.56 billion, a PE ratio of 21.36 and a beta of 1.07.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The company had revenue of $390.95 million during the quarter, compared to the consensus estimate of $391.08 million. Equities research analysts forecast that Alamo Group will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Wednesday, April 16th. Alamo Group’s dividend payout ratio is currently 12.50%.

Insiders Place Their Bets

In other news, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total transaction of $705,320.00. Following the sale, the chief executive officer now owns 40,913 shares of the company’s stock, valued at approximately $8,244,787.76. This trade represents a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 500 shares of Alamo Group stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the sale, the executive vice president now directly owns 12,948 shares in the company, valued at $2,613,424.32. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Institutional Trading of Alamo Group

Several institutional investors have recently modified their holdings of ALG. Parallel Advisors LLC grew its holdings in shares of Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 168 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Alamo Group by 110.6% during the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 125 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 61 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Alamo Group by 3,140.0% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.