Alamo Group (NYSE:ALG) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Alamo Group (NYSE:ALG - Free Report) from a hold rating to a buy rating in a research note published on Thursday.

Other equities analysts also recently issued research reports about the stock. DA Davidson dropped their price objective on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research report on Monday, March 3rd. Finally, Baird R W lowered Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th.

Alamo Group Stock Performance

Shares of NYSE ALG traded up $4.24 during midday trading on Thursday, hitting $201.26. 10,891 shares of the stock traded hands, compared to its average volume of 110,586. The firm has a market capitalization of $2.43 billion, a P/E ratio of 20.27 and a beta of 1.02. Alamo Group has a one year low of $157.07 and a one year high of $205.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The firm has a 50-day moving average of $179.16 and a two-hundred day moving average of $184.72.

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

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, April 16th. Alamo Group's dividend payout ratio is 12.50%.

Insiders Place Their Bets

In other news, EVP Richard Hodges Raborn sold 500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the transaction, the executive vice president now directly owns 12,948 shares in the company, valued at $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 available at this hyperlink. 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 directly owns 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 disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Alamo Group by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company's stock worth $137,039,000 after purchasing an additional 47,819 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alamo Group by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company's stock worth $125,732,000 after buying an additional 26,835 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 worth $90,320,000 after acquiring an additional 58,097 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in 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 bought a new stake in Alamo Group in the 1st quarter valued at $40,988,000. Institutional investors own 92.36% of the company's stock.

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.