Alamo Group (NYSE:ALG) Shares Gap Down to $195.24

Shares of Alamo Group Inc. (NYSE:ALG) gapped down before the market opened on Friday . The stock had previously closed at $195.24, but opened at $190.00. Alamo Group shares last traded at $189.33, with a volume of 13,484 shares.

Analyst Upgrades and Downgrades

ALG has been the subject of a number of recent analyst reports. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. DA Davidson boosted their price target on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th.

Alamo Group Trading Down 0.7 %

The company has a fifty day moving average of $208.34 and a 200-day moving average of $200.19. The company has a current ratio of 3.76, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 17.07 and a beta of 1.07.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). The business had revenue of $417.54 million for the quarter. Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. As a group, equities research analysts anticipate that Alamo Group Inc. will post 13.17 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, April 15th. Alamo Group’s dividend payout ratio (DPR) is presently 9.15%.

Insider Buying and Selling

In other news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the transaction, the executive vice president now directly owns 19,206 shares in the company, valued at approximately $4,299,647.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Alamo Group

Large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in shares of Alamo Group by 1.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,765 shares of the industrial products company’s stock valued at $1,861,000 after buying an additional 184 shares during the last quarter. Strs Ohio lifted its stake in Alamo Group by 12.9% in the third quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock valued at $8,020,000 after buying an additional 5,300 shares during the last quarter. TIAA Trust National Association purchased a new position in shares of Alamo Group during the third quarter worth approximately $257,000. Allspring Global Investments Holdings LLC raised its position in Alamo Group by 6.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 279,554 shares of the industrial products company’s stock valued at $48,324,000 after purchasing an additional 17,646 shares during the last quarter. Finally, Cambiar Investors LLC grew its position in Alamo Group by 3.8% during the 3rd quarter. Cambiar Investors LLC now owns 13,494 shares of the industrial products company’s stock worth $2,333,000 after purchasing an additional 500 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 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.