Alamo Group (NYSE:ALG) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other research firms have also weighed in on ALG. Robert W. Baird lowered Alamo Group from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $224.00 to $177.00 in a research report on Friday, February 28th. DA Davidson decreased their price objective on Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a research report on Monday. Finally, Baird R W lowered Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th.

Alamo Group Trading Up 2.0 %

NYSE:ALG opened at $178.33 on Wednesday. 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 has a 1-year low of $163.74 and a 1-year high of $228.88. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.96 and a beta of 1.10. The stock has a fifty day simple moving average of $183.16 and a 200 day simple moving average of $184.07.

Alamo Group (NYSE:ALG) last released its quarterly earnings results 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 return on equity of 12.41% and a net margin of 7.19%. The business had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Sell-side analysts forecast that Alamo Group will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Thursday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a yield of 0.67%. Alamo Group’s dividend payout ratio (DPR) is presently 12.46%.

Insiders Place Their Bets

In other news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the sale, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. The trade was a 7.11 % decrease in their position. The sale 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 Investors Weigh In On Alamo Group

Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of 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 buying an additional 154 shares during the last quarter. JNBA Financial Advisors acquired a new stake in shares of Alamo Group during the 3rd quarter valued at about $37,000. Smartleaf Asset Management LLC lifted its holdings in shares of Alamo Group by 442.1% during the 4th 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 during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Alamo Group during the 4th quarter valued at about $79,000. Finally, KBC Group NV lifted its holdings in shares of Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after buying an additional 189 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

About Alamo Group

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.