Alamo Group (NYSE:ALG) Sets New 1-Year High - What's Next?

Alamo Group, Inc. (NYSE:ALG - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $218.53 and last traded at $216.67, with a volume of 193614 shares trading hands. The stock had previously closed at $212.46.

Wall Street Analyst Weigh In

ALG has been the topic of several research reports. Robert W. Baird downgraded shares of Alamo Group from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $224.00 to $177.00 in a research note on Friday, February 28th. Baird R W cut shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research note on Monday, March 3rd. DA Davidson reduced their price objective on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a research report on Saturday.

Alamo Group Price Performance

The stock has a market capitalization of $2.62 billion, a P/E ratio of 22.17 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. The business has a fifty day simple moving average of $188.00 and a 200 day simple moving average of $185.84.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $390.95 million during 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%. On average, analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, April 16th. Alamo Group's dividend payout ratio is currently 12.50%.

Insider Buying and Selling at Alamo Group

In related news, EVP Richard Hodges Raborn sold 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 $201.84, for a total transaction of $100,920.00. Following the completion of the transaction, the executive vice president now owns 12,948 shares of the company's stock, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the company'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 completion of the transaction, the chief executive officer now owns 40,913 shares in the company, valued at $8,244,787.76. This represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its position 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 worth $38,000 after buying an additional 168 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Alamo Group by 5.0% in the fourth 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 last quarter. Intech Investment Management LLC grew its position in shares of Alamo Group by 63.9% in the 4th quarter. Intech Investment Management LLC now owns 4,405 shares of the industrial products company's stock worth $819,000 after buying an additional 1,718 shares during the last quarter. Principal Financial Group Inc. increased its position in Alamo Group by 4.0% during the 4th quarter. Principal Financial Group Inc. now owns 56,936 shares of the industrial products company's stock valued at $10,585,000 after purchasing an additional 2,200 shares during the period. Finally, American Century Companies Inc. raised its stake in Alamo Group by 54.6% in the fourth quarter. American Century Companies Inc. now owns 13,918 shares of the industrial products company's stock worth $2,587,000 after buying an additional 4,918 shares in the last quarter. Hedge funds and other institutional investors 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.