Alamo Group (NYSE:ALG) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Alamo Group (NYSE:ALG) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

ALG has been the subject of a number of other research reports. Robert W. Baird raised shares of Alamo Group from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $209.00 to $260.00 in a research report on Monday, August 4th. Baird R W upgraded shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. DA Davidson dropped their target price on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Wall Street Zen cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alamo Group in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alamo Group currently has a consensus rating of “Hold” and a consensus price target of $222.33.

Alamo Group Stock Down 2.2%

Shares of Alamo Group stock opened at $162.05 on Thursday. Alamo Group has a twelve month low of $157.07 and a twelve month high of $233.29. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average price of $187.16 and a 200 day moving average price of $202.78.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($0.27). Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The firm had revenue of $420.04 million during the quarter, compared to analyst estimates of $407.55 million. Equities research analysts forecast that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 28th. Shareholders of record on Wednesday, October 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $1.20 annualized dividend and a yield of 0.7%. Alamo Group’s dividend payout ratio (DPR) is currently 12.45%.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in shares of Alamo Group in the 1st quarter worth approximately $8,361,000. State of Alaska Department of Revenue boosted its holdings in Alamo Group by 7.7% during the second quarter. State of Alaska Department of Revenue now owns 6,188 shares of the industrial products company’s stock worth $1,350,000 after buying an additional 441 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Alamo Group in the first quarter worth approximately $12,920,000. Jump Financial LLC increased its holdings in shares of Alamo Group by 44.5% in the first quarter. Jump Financial LLC now owns 8,419 shares of the industrial products company’s stock valued at $1,500,000 after buying an additional 2,592 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

About Alamo Group

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.