Insider Buying: Alamo Group (NYSE:ALG) CEO Buys 460 Shares of Stock

Alamo Group, Inc. (NYSE:ALG) CEO Robert Paul Hureau purchased 460 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of $164.40 per share, for a total transaction of $75,624.00. Following the completion of the acquisition, the chief executive officer owned 12,506 shares of the company’s stock, valued at approximately $2,055,986.40. This represents a 3.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Alamo Group Stock Up 2.6%

Shares of NYSE:ALG traded up $4.49 during mid-day trading on Wednesday, reaching $174.59. 140,385 shares of the stock were exchanged, compared to its average volume of 125,904. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17. Alamo Group, Inc. has a one year low of $156.29 and a one year high of $233.29. The company has a market cap of $2.12 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.00 and a beta of 1.10. The stock’s 50 day simple moving average is $194.66 and its 200-day simple moving average is $187.19.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36). The business had revenue of $373.65 million during the quarter, compared to the consensus estimate of $405.18 million. Alamo Group had a return on equity of 10.04% and a net margin of 6.47%. As a group, equities research analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, January 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio (DPR) is currently 15.83%.

Hedge Funds Weigh In On Alamo Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its stake in shares of Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after buying an additional 177 shares during the last quarter. Jones Financial Companies Lllp grew its stake 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 valued at $58,000 after buying an additional 314 shares during the last quarter. MAI Capital Management bought a new position in Alamo Group in the 3rd quarter valued at about $73,000. Kestra Advisory Services LLC acquired a new stake in Alamo Group during the fourth quarter worth approximately $76,000. Finally, State of Wyoming boosted its holdings in shares of Alamo Group by 76.5% during the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 205 shares during the period. 92.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALG. Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 29th. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research lowered shares of Alamo Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Finally, DA Davidson reissued a “neutral” rating and issued a $190.00 price objective on shares of Alamo Group in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $225.00.

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.