Brokerages Set Alamo Group, Inc. (NYSE:ALG) Target Price at $222.33

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

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

Alamo Group Price Performance

Shares of ALG stock opened at $213.51 on Monday. The stock’s fifty day simple moving average is $191.97 and its 200 day simple moving average is $189.61. Alamo Group has a one year low of $156.29 and a one year high of $233.29. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 1.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.43 and a quick ratio of 2.72.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. Alamo Group’s dividend payout ratio (DPR) is currently 14.11%.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors have recently modified their holdings of ALG. Global Retirement Partners LLC lifted its position in shares of Alamo Group by 136.2% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares in the last quarter. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 314 shares during the last quarter. MAI Capital Management bought a new position in Alamo Group in the 3rd quarter worth approximately $73,000. Kestra Advisory Services LLC acquired a new position in Alamo Group during the 4th quarter worth $76,000. Finally, State of Wyoming boosted its position in Alamo Group by 76.5% in the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock valued at $79,000 after buying an additional 205 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

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.