Alamo Group (NYSE:ALG) Reaches New 52-Week High - Here's Why

Alamo Group Inc. (NYSE:ALG - Get Free Report) reached a new 52-week high during mid-day 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 recently commented on ALG shares. DA Davidson decreased their price target 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. Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Baird R W lowered Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Robert W. Baird lowered Alamo Group from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research note on Monday, March 3rd.

Alamo Group Trading Up 0.1%

The stock has a market cap of $2.47 billion, a PE ratio of 20.61 and a beta of 1.02. 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 business has a 50 day moving average of $181.31 and a 200-day moving average of $185.19.

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

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were issued 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 dividend yield of 0.59%. Alamo Group's payout ratio is 12.50%.

Insider Transactions at Alamo Group

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total value of $705,320.00. Following the transaction, the chief executive officer now directly owns 40,913 shares of the company's stock, valued at $8,244,787.76. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president now directly owns 12,948 shares in the company, valued at $2,613,424.32. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Institutional Trading of Alamo Group

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Alamo Group by 6.6% during the first quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company's stock valued at $137,039,000 after acquiring an additional 47,819 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Alamo Group by 4.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company's stock valued at $125,732,000 after acquiring an additional 26,835 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Alamo Group by 12.9% during the first quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company's stock valued at $90,320,000 after acquiring an additional 58,097 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Alamo Group by 22.9% during the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock valued at $71,437,000 after acquiring an additional 74,679 shares in the last quarter. Finally, Ninepoint Partners LP acquired a new stake in shares of Alamo Group during the first quarter valued at about $40,988,000. 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.