Alamo Group, Inc. (NYSE:ALG) Receives $224.00 Average PT from Analysts

Shares of Alamo Group, Inc. (NYSE:ALG) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $224.00.

A number of analysts have commented on ALG shares. DA Davidson decreased their target price on Alamo Group from $190.00 to $188.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. William Blair assumed coverage on Alamo Group in a research report on Monday, March 16th. They issued an “outperform” rating on the stock. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th.

Alamo Group Stock Up 1.6%

ALG opened at $153.04 on Wednesday. The business’s fifty day moving average is $162.05 and its two-hundred day moving average is $175.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.89 and a beta of 1.11. Alamo Group has a one year low of $145.76 and a one year high of $233.29.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. The company had revenue of $417.15 million for the quarter, compared to the consensus estimate of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. Analysts anticipate that Alamo Group will post 10.61 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, April 15th. Alamo Group’s dividend payout ratio is currently 16.27%.

Insider Activity

In other news, EVP Edward Rizzuti sold 600 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $170.93, for a total value of $102,558.00. Following the sale, the executive vice president directly owned 10,857 shares in the company, valued at $1,855,787.01. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by corporate insiders.

Institutional Trading of Alamo Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Alamo Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company’s stock valued at $134,000,000 after acquiring an additional 12,499 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Alamo Group by 9.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock valued at $113,562,000 after acquiring an additional 57,456 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Alamo Group by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 527,399 shares of the industrial products company’s stock valued at $87,006,000 after purchasing an additional 27,597 shares during the last quarter. First Trust Advisors LP increased its stake in Alamo Group by 5.4% in the first quarter. First Trust Advisors LP now owns 469,289 shares of the industrial products company’s stock valued at $77,419,000 after purchasing an additional 24,184 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Alamo Group by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 462,758 shares of the industrial products company’s stock valued at $77,683,000 after purchasing an additional 31,860 shares during the last quarter. 92.36% of the stock is currently owned by hedge funds and other 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.