Brokerages Set Alamo Group, Inc. (NYSE:ALG) Target Price at $225.00

Alamo Group, Inc. (NYSE:ALG) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $225.00.

Several brokerages have recently issued reports on ALG. Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. DA Davidson restated a “neutral” rating and set a $190.00 target price on shares of Alamo Group in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a report on Monday, December 29th. CJS Securities upgraded shares of Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, William Blair began coverage on shares of Alamo Group in a report on Monday, March 16th. They set an “outperform” rating for the company.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, CEO Robert Paul Hureau bought 460 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $164.40 per share, with a total value of $75,624.00. Following the completion of the acquisition, the chief executive officer directly owned 12,506 shares of the company’s stock, valued at $2,055,986.40. This represents a 3.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina C. Grooms sold 499 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total value of $87,419.81. Following the completion of the sale, the director owned 2,844 shares in the company, valued at approximately $498,240.36. This represents a 14.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.18% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Alamo Group by 8.3% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,292 shares of the industrial products company’s stock worth $1,811,000 after buying an additional 635 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Alamo Group in the 3rd quarter valued at $3,324,000. Tributary Capital Management LLC grew its position in shares of Alamo Group by 92.5% in the 3rd quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock valued at $38,895,000 after buying an additional 97,898 shares during the last quarter. Jump Financial LLC raised its stake in Alamo Group by 203.0% during the 2nd quarter. Jump Financial LLC now owns 25,508 shares of the industrial products company’s stock worth $5,570,000 after acquiring an additional 17,089 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Alamo Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 243,470 shares of the industrial products company’s stock worth $53,176,000 after acquiring an additional 4,927 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Performance

NYSE:ALG opened at $159.63 on Friday. Alamo Group has a 52 week low of $156.29 and a 52 week high of $233.29. The company has a fifty day simple moving average of $192.99 and a two-hundred day simple moving average of $184.63. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 0.97 and a beta of 1.11.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.36). Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. The company had revenue of $373.65 million during the quarter, compared to analyst estimates of $405.18 million. As a group, equities analysts anticipate that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. Alamo Group’s payout ratio is presently 15.83%.

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.