Alamo Group, Inc. (NYSE:ALG) Receives $224.00 Average Price Target from Analysts

Alamo Group, Inc. (NYSE:ALG) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $224.00.

Several analysts have issued reports on ALG shares. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. DA Davidson reissued a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research note on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th.

Institutional Trading of Alamo Group

Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Alamo Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company’s stock valued at $1,084,000 after buying an additional 251 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Alamo Group by 164.7% in the 1st quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock valued at $11,332,000 after acquiring an additional 39,564 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 valued at $6,444,000 after acquiring an additional 4,062 shares during the period. Finally, Invesco Ltd. boosted its holdings in Alamo Group by 83.7% during the 2nd quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company’s stock valued at $16,899,000 after acquiring an additional 35,248 shares during the period. 92.36% of the stock is owned by institutional investors.

Alamo Group Trading Up 0.2%

NYSE ALG opened at $165.32 on Thursday. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $158.62 and its two-hundred day simple moving average is $173.97. Alamo Group has a twelve month low of $145.76 and a twelve month high of $233.29. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.97 and a beta of 1.09.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. The firm had revenue of $417.15 million during the quarter, compared to analysts’ expectations of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. Research analysts forecast that Alamo Group will post 10.65 EPS for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Thursday, July 16th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is currently 16.27%.

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.