Alamo Group (NYSE:ALG – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.
Separately, DA Davidson upped their target price on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.
Check Out Our Latest Analysis on ALG
Alamo Group Price Performance
Alamo Group (NYSE:ALG – Get Free Report) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. The firm had revenue of $425.59 million for the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same quarter last year, the firm earned $2.79 earnings per share. On average, equities analysts anticipate that Alamo Group will post 13.17 EPS for the current fiscal year.
Insider Transactions at Alamo Group
In related news, EVP Michael A. Haberman sold 418 shares of the business’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 sale, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by company insiders.
Institutional Investors Weigh In On Alamo Group
Institutional investors and hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. raised its stake in shares of Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after buying an additional 47 shares during the last quarter. Quest Partners LLC bought a new stake in Alamo Group in the fourth quarter valued at approximately $52,000. Duncker Streett & Co. Inc. acquired a new stake in shares of Alamo Group during the first quarter worth $82,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Alamo Group during the fourth quarter worth $208,000. Finally, FCA Corp TX acquired a new stake in shares of Alamo Group during the fourth quarter worth $210,000. 92.36% of the stock is owned by institutional investors.
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.
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