Alamo Group (NYSE:ALG) Downgraded by Robert W. Baird to “Neutral”

Robert W. Baird lowered shares of Alamo Group (NYSE:ALG) from an outperform rating to a neutral rating in a report released on Friday, Marketbeat reports. Robert W. Baird currently has $177.00 price target on the industrial products company’s stock, down from their previous price target of $224.00.

Separately, StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday.

Alamo Group Trading Down 5.0 %

Shares of ALG opened at $175.02 on Friday. Alamo Group has a 1-year low of $163.74 and a 1-year high of $228.88. The company has a 50-day moving average of $183.83 and a 200 day moving average of $183.94. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.63 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The company had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. On average, research analysts expect that Alamo Group will post 9.53 EPS for the current year.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were given a dividend of $0.30 per share. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.69%. Alamo Group’s dividend payout ratio (DPR) is 12.08%.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Alamo Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock worth $134,070,000 after buying an additional 2,361 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Alamo Group by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after buying an additional 30,826 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Alamo Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after buying an additional 33,294 shares during the last quarter. State Street Corp grew its position in shares of Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after buying an additional 10,013 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Alamo Group by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after buying an additional 670 shares during the last quarter. Hedge funds and other 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.