Alamo Group (NYSE:ALG) Upgraded at StockNews.com

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a report published on Wednesday.

Separately, DA Davidson lifted their price objective on Alamo Group from $230.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, February 27th.

Alamo Group Price Performance

Shares of ALG stock opened at $198.52 on Wednesday. The stock’s fifty day simple moving average is $210.10 and its 200 day simple moving average is $199.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 17.48 and a beta of 1.04. Alamo Group has a one year low of $157.74 and a one year high of $231.40.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.22). The company had revenue of $417.54 million during the quarter. Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. On average, analysts expect that Alamo Group will post 13.17 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.04 annualized dividend and a yield of 0.52%. Alamo Group’s payout ratio is 9.15%.

Insider Transactions at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was 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 owns 19,206 shares in the company, valued at $4,299,647.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Alamo Group by 42.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock worth $83,906,000 after purchasing an additional 119,636 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Alamo Group during the first quarter worth $12,844,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Alamo Group by 19.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock worth $73,223,000 after purchasing an additional 53,195 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Alamo Group by 251.1% during the third quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock worth $7,643,000 after purchasing an additional 31,621 shares during the period. Finally, RK Capital Management LLC acquired a new stake in shares of Alamo Group during the third quarter worth $5,177,000. Institutional investors own 92.36% of the company’s stock.

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.