Alamo Group, Inc. (NYSE:ALG) Receives $222.33 Average Price Target from Brokerages

Shares of Alamo Group, Inc. (NYSE:ALG) have been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $222.3333.

A number of research analysts recently issued reports on the company. DA Davidson decreased their price objective on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Wall Street Zen downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 29th.

Alamo Group Stock Up 1.4%

NYSE:ALG opened at $195.64 on Thursday. Alamo Group has a 1-year low of $156.29 and a 1-year high of $233.29. The company has a current ratio of 4.43, a quick ratio of 2.72 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.08 and a beta of 1.12. The business’s fifty day moving average price is $177.23 and its 200 day moving average price is $191.09.

Alamo Group (NYSE:ALG) last posted its earnings results on Thursday, November 6th. The industrial products company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.61 by ($0.27). The firm had revenue of $420.04 million during the quarter, compared to analyst estimates of $407.55 million. Alamo Group had a return on equity of 11.11% and a net margin of 7.20%. On average, sell-side analysts forecast that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were paid a dividend of $0.34 per share. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s payout ratio is 14.11%.

Insiders Place Their Bets

In other Alamo Group news, CEO Robert Paul Hureau purchased 304 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were purchased at an average cost of $163.48 per share, with a total value of $49,697.92. Following the completion of the purchase, the chief executive officer owned 12,046 shares in the company, valued at $1,969,280.08. This represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 1,058 shares of company stock valued at $175,209 in the last ninety days. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors have recently modified their holdings of ALG. Jones Financial Companies Lllp raised its holdings in shares of Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 314 shares during the last quarter. MAI Capital Management purchased a new stake in Alamo Group in the 3rd quarter worth about $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Alamo Group during the 2nd quarter valued at $87,000. Globeflex Capital L P bought a new stake in shares of Alamo Group during the second quarter valued at about $100,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Alamo Group by 152.4% in the second quarter. Tower Research Capital LLC TRC now owns 858 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 518 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.