Alamo Group (NYSE:ALG) Sets New 52-Week High - Still a Buy?

Alamo Group, Inc. (NYSE:ALG - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $227.30 and last traded at $226.64, with a volume of 14224 shares. The stock had previously closed at $225.19.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALG shares. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. DA Davidson dropped their price target on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research note on Monday, April 21st.

Alamo Group Stock Performance

The company has a quick ratio of 2.62, a current ratio of 4.30 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $206.64 and a 200 day simple moving average of $189.06. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 23.52 and a beta of 1.08.

Alamo Group (NYSE:ALG - Get Free Report) last announced its earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.32. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. The business had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. On average, sell-side analysts predict that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, July 16th. Alamo Group's dividend payout ratio is currently 12.50%.

Insider Activity

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the sale, the chief executive officer directly owned 40,913 shares of the company's stock, valued at approximately $8,244,787.76. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 500 shares of Alamo Group 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 transaction, the executive vice president owned 12,948 shares in the company, valued at approximately $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 Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Alamo Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock worth $26,222,000 after purchasing an additional 6,666 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Alamo Group in the fourth quarter valued at approximately $200,000. Amundi grew its holdings in Alamo Group by 186.9% during the fourth quarter. Amundi now owns 5,238 shares of the industrial products company's stock worth $923,000 after acquiring an additional 3,412 shares during the period. Swiss National Bank raised its position in Alamo Group by 0.5% in the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company's stock worth $3,737,000 after acquiring an additional 100 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in Alamo Group in the fourth quarter valued at $1,398,000. 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.