Alamo Group (NYSE:ALG) Given New $225.00 Price Target at DA Davidson

Alamo Group (NYSE:ALG) had its price target trimmed by DA Davidson from $235.00 to $225.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Separately, StockNews.com cut Alamo Group from a buy rating to a hold rating in a report on Monday.

Alamo Group Price Performance

Alamo Group stock opened at $194.12 on Tuesday. The firm has a market capitalization of $2.34 billion, a PE ratio of 17.27 and a beta of 1.07. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The firm’s 50-day simple moving average is $208.06 and its 200 day simple moving average is $201.02. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.01. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The company had revenue of $425.59 million for the quarter. During the same period last year, the company earned $2.79 EPS. On average, equities research analysts predict that Alamo Group will post 13.17 EPS for the current fiscal year.

Alamo Group Announces Dividend

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

Insider Activity

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

Hedge Funds Weigh In On Alamo Group

A number of large investors have recently bought and sold shares of ALG. Louisiana State Employees Retirement System purchased a new stake in shares of Alamo Group during the 4th quarter valued at $1,093,000. Raymond James & Associates purchased a new stake in Alamo Group during the fourth quarter valued at about $215,000. Aviva PLC acquired a new stake in Alamo Group during the third quarter worth about $604,000. GSA Capital Partners LLP raised its holdings in shares of Alamo Group by 382.0% in the 3rd quarter. GSA Capital Partners LLP now owns 12,171 shares of the industrial products company’s stock worth $2,104,000 after purchasing an additional 9,646 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Alamo Group by 2.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 253,338 shares of the industrial products company’s stock valued at $43,792,000 after purchasing an additional 6,215 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.