Alamo Group (NYSE:ALG) Sets New 1-Year High - Time to Buy?

Alamo Group Inc. (NYSE:ALG - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $206.48 and last traded at $205.00, with a volume of 133087 shares traded. The stock had previously closed at $198.41.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Friday. Robert W. Baird lowered Alamo Group from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $224.00 to $177.00 in a report on Friday, February 28th. DA Davidson dropped their target price on Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Baird R W lowered Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 price target on Alamo Group in a report on Monday, March 3rd.

Alamo Group Stock Performance

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 company has a market cap of $2.51 billion, a PE ratio of 20.90 and a beta of 1.07. The firm's 50-day simple moving average is $182.41 and its two-hundred day simple moving average is $185.38.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.33 by $0.32. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $390.95 million during the quarter, compared to the consensus estimate of $391.08 million. As a group, research analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, April 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.58%. Alamo Group's dividend payout ratio is currently 12.50%.

Insider Buying and Selling at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of the business's stock in a transaction 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 directly owns 40,913 shares in the company, valued at $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total transaction of $100,920.00. Following the completion of the sale, the executive vice president now directly owns 12,948 shares in the company, valued at approximately $2,613,424.32. The trade was a 3.72% 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.

Hedge Funds Weigh In On Alamo Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Investment Partners LLC grew its holdings in Alamo Group by 2.2% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company's stock worth $484,000 after acquiring an additional 56 shares during the period. Nisa Investment Advisors LLC boosted its position in Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock worth $49,000 after purchasing an additional 65 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Alamo Group by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock worth $199,000 after purchasing an additional 69 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Alamo Group by 80.0% during the 1st 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 period. 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.