StockNews.com Upgrades Alamo Group (NYSE:ALG) to "Buy"

StockNews.com upgraded shares of Alamo Group (NYSE:ALG - Free Report) from a hold rating to a buy rating in a research note issued to investors on Monday.

Other analysts have also recently issued research reports about the stock. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research report on Monday, March 3rd. Finally, DA Davidson dropped their price target on Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a report on Monday, April 21st.

Alamo Group Stock Performance

NYSE:ALG traded up $1.19 on Monday, hitting $203.21. The company's stock had a trading volume of 96,065 shares, compared to its average volume of 94,434. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $177.22 and a two-hundred day moving average of $183.99. The firm has a market capitalization of $2.46 billion, a P/E ratio of 20.46 and a beta of 1.02. Alamo Group has a one year low of $157.07 and a one year high of $205.62.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The business had revenue of $390.95 million for the quarter, compared to analysts' expectations of $391.08 million. Research analysts predict that Alamo Group will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, April 16th. Alamo Group's dividend payout ratio is currently 12.50%.

Insiders Place Their Bets

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total value of $100,920.00. Following the transaction, the executive vice president now directly owns 12,948 shares of the company's stock, valued at $2,613,424.32. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the transaction, the chief executive officer now owns 40,913 shares of the company's stock, valued at $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Institutional Trading of Alamo Group

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in Alamo Group by 80.0% during the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares during the last quarter. Smartleaf Asset Management LLC raised 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 worth $38,000 after buying an additional 168 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Alamo Group by 110.6% during the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after buying an additional 125 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after buying an additional 61 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 314 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

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.