Alamo Group (NYSE:ALG) Stock Price Down 6.7% – Time to Sell?

Shares of Alamo Group Inc. (NYSE:ALG) were down 6.7% during trading on Friday . The company traded as low as $172.76 and last traded at $171.97. Approximately 57,942 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 94,371 shares. The stock had previously closed at $184.26.

Analyst Ratings Changes

ALG has been the subject of several recent research reports. StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Baird R W downgraded Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday. Finally, Robert W. Baird cut Alamo Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $224.00 to $177.00 in a research note on Friday.

Alamo Group Stock Down 5.0 %

The firm’s 50 day simple moving average is $183.83 and its 200 day simple moving average is $184.03. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 17.63 and a beta of 1.10. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG) last posted its earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.23 by $0.16. The firm had revenue of $385.32 million for the quarter, compared to analysts’ expectations of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. Sell-side analysts anticipate that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a dividend of $0.30 per share. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group’s payout ratio is currently 12.08%.

Insider Buying and Selling

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the business’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 sale, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors acquired a new stake in shares of Alamo Group in the third quarter valued at $37,000. Smartleaf Asset Management LLC boosted its stake in Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after buying an additional 168 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Alamo Group during the fourth quarter worth about $79,000. Finally, KBC Group NV raised its position in Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds 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.