Alamo Group (NYSE:ALG) Upgraded at Zacks Research

Zacks Research upgraded shares of Alamo Group (NYSE:ALG) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, DA Davidson reduced their price objective on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.33.

Alamo Group Price Performance

Alamo Group stock opened at $190.22 on Monday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.05 and a beta of 1.12. The company’s fifty day moving average price is $170.41 and its 200 day moving average price is $193.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.72 and a current ratio of 4.43. Alamo Group has a 1 year low of $156.29 and a 1 year high of $233.29.

Alamo Group (NYSE:ALG) last posted 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). The company had revenue of $420.04 million for the quarter, compared to analysts’ expectations of $407.55 million. Alamo Group had a net margin of 7.20% and a return on equity of 11.11%. As a group, equities research analysts anticipate that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 29th. Investors of record on Friday, January 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio is 12.45%.

Insider Activity

In other news, CEO Robert Paul Hureau bought 304 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were bought at an average price of $163.48 per share, with a total value of $49,697.92. Following the completion of the transaction, the chief executive officer directly owned 12,046 shares in the company, valued at $1,969,280.08. This trade represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have purchased 1,058 shares of company stock valued at $175,209. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alamo Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Alamo Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company’s stock worth $1,084,000 after purchasing an additional 251 shares during the last quarter. Millennium Management LLC raised its stake in Alamo Group by 164.7% in the first quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock valued at $11,332,000 after buying an additional 39,564 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after buying an additional 314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alamo Group by 12.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company’s stock worth $6,444,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Alamo Group in the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.