Alamo Group (NYSE:ALG) Sets New 52-Week High - Time to Buy?

Key Points

• Alamo Group's stock recently reached a new 52-week high of $231.89, reflecting strong trading activity with a volume of 22,233 shares.
• Analyst ratings for Alamo Group have fluctuated, with Robert W. Baird upgrading the stock to an "outperform" rating and a new price target of $260, while other analysts have maintained or downgraded their ratings.
• The company has a dividend yield of 0.5% with a recently declared quarterly dividend of $0.30, and a dividend payout ratio of 12.22%.

Alamo Group, Inc. (NYSE:ALG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $231.89 and last traded at $231.06, with a volume of 22233 shares trading hands. The stock had previously closed at $227.01.

Analyst Ratings Changes

ALG has been the subject of a number of recent analyst reports. DA Davidson restated a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Wall Street Zen downgraded Alamo Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Alamo Group Stock Performance

The stock has a market capitalization of $2.82 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The company has a 50 day simple moving average of $218.59 and a 200-day simple moving average of $195.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76.

Alamo Group (NYSE:ALG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.12). Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The firm had revenue of $419.07 million during the quarter, compared to the consensus estimate of $406.75 million. On average, equities analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 16th. Alamo Group's dividend payout ratio (DPR) is presently 12.22%.

Hedge Funds Weigh In On Alamo Group

Large investors have recently made changes to their positions in the stock. Ninepoint Partners LP bought a new position in shares of Alamo Group in the first quarter worth $40,988,000. Bank of America Corp DE increased its holdings in shares of Alamo Group by 826.1% in the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company's stock worth $24,260,000 after purchasing an additional 116,404 shares during the period. American Century Companies Inc. increased its holdings in shares of Alamo Group by 201.6% in the second quarter. American Century Companies Inc. now owns 153,720 shares of the industrial products company's stock worth $33,569,000 after purchasing an additional 102,751 shares during the period. SG Capital Management LLC bought a new position in shares of Alamo Group in the fourth quarter worth $16,971,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Alamo Group by 338.4% during the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after acquiring an additional 89,430 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Alamo Group Company Profile

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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