Alamo Group (NYSE:ALG) Shares Gap Down to $195.24

Shares of Alamo Group Inc. (NYSE:ALG) gapped down prior to trading on Friday . The stock had previously closed at $195.24, but opened at $190.00. Alamo Group shares last traded at $189.33, with a volume of 13,484 shares traded.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ALG shares. DA Davidson boosted their price target on Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th.

Alamo Group Stock Performance

The firm’s fifty day simple moving average is $208.34 and its 200 day simple moving average is $200.38. The company has a market capitalization of $2.34 billion, a PE ratio of 17.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99.

Alamo Group (NYSE:ALG) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). The company had revenue of $417.54 million during the quarter. Alamo Group had a return on equity of 15.07% and a net margin of 7.92%. On average, research analysts predict that Alamo Group Inc. will post 13.17 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Alamo Group’s payout ratio is 9.25%.

Insider Activity at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 19,206 shares in the company, valued at $4,299,647.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds have recently bought and sold shares of ALG. BNP Paribas Financial Markets raised its stake in shares of Alamo Group by 9.4% during the 1st quarter. BNP Paribas Financial Markets now owns 9,016 shares of the industrial products company’s stock worth $2,059,000 after buying an additional 774 shares during the period. Argent Capital Management LLC raised its position in Alamo Group by 14.2% during the first quarter. Argent Capital Management LLC now owns 1,187 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 148 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Alamo Group by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 403,017 shares of the industrial products company’s stock valued at $92,021,000 after purchasing an additional 3,827 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Alamo Group by 0.8% in the first quarter. Principal Financial Group Inc. now owns 57,009 shares of the industrial products company’s stock valued at $13,017,000 after purchasing an additional 465 shares during the period. Finally, Shaker Investments LLC OH increased its stake in shares of Alamo Group by 1.5% during the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock worth $911,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors 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.