Alamo Group (NYSE:ALG) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a report released on Tuesday.

Separately, DA Davidson raised their price objective on Alamo Group from $230.00 to $235.00 and gave the company a buy rating in a research note on Tuesday, February 27th.

Alamo Group Stock Performance

NYSE ALG opened at $212.90 on Tuesday. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a market cap of $2.57 billion, a P/E ratio of 18.74 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. The stock has a 50-day moving average of $212.48 and a two-hundred day moving average of $198.17.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The company had revenue of $417.54 million during the quarter. As a group, analysts anticipate that Alamo Group will post 13.17 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, April 15th. Alamo Group’s dividend payout ratio is currently 9.15%.

Insider Buying and Selling

In related news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aviva PLC purchased a new stake in shares of Alamo Group during the 3rd quarter worth about $604,000. GSA Capital Partners LLP grew its stake in Alamo Group by 382.0% during the third quarter. GSA Capital Partners LLP now owns 12,171 shares of the industrial products company’s stock worth $2,104,000 after buying an additional 9,646 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Alamo Group by 2.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 253,338 shares of the industrial products company’s stock worth $43,792,000 after acquiring an additional 6,215 shares in the last quarter. Strs Ohio raised its stake in shares of Alamo Group by 12.9% in the 3rd quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock valued at $8,020,000 after acquiring an additional 5,300 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Alamo Group by 10.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 10,353 shares of the industrial products company’s stock valued at $1,790,000 after acquiring an additional 956 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.