Alamo Group (NYSE:ALG) Reaches New 12-Month High - What's Next?

Shares of Alamo Group, Inc. (NYSE:ALG - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $223.61 and last traded at $221.99, with a volume of 44749 shares trading hands. The stock had previously closed at $218.38.

Wall Street Analysts Forecast Growth

ALG has been the topic of a number of recent research reports. DA Davidson lowered 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. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a report on Monday, March 3rd.

Alamo Group Stock Up 1.7%

The business has a 50-day moving average price of $197.52 and a 200-day moving average price of $187.21. The stock has a market cap of $2.68 billion, a PE ratio of 23.13 and a beta of 1.07. The company has a current ratio of 4.30, a quick ratio of 2.62 and a debt-to-equity ratio of 0.19.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.32. The business had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. As a group, analysts forecast that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Insider Activity

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction on 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 owned 40,913 shares in the company, valued at approximately $8,244,787.76. This trade represents a 7.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 500 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total transaction of $100,920.00. Following the sale, the executive vice president directly owned 12,948 shares of the company's stock, valued at $2,613,424.32. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALG. Parallel Advisors LLC increased its holdings in shares of Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Alamo Group by 442.1% in 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Alamo Group by 110.6% in the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after acquiring an additional 125 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after acquiring an additional 61 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Alamo Group by 3,140.0% during the 1st 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. 92.36% of the stock is owned by hedge funds and other institutional investors.

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.

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