Alamo Group (NYSE:ALG) Director Sells $87,419.81 in Stock

Alamo Group, Inc. (NYSE:ALG) Director Nina Grooms sold 499 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total transaction of $87,419.81. Following the completion of the transaction, the director directly owned 2,844 shares of the company’s stock, valued at approximately $498,240.36. This represents a 14.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Alamo Group Price Performance

Shares of NYSE ALG opened at $170.82 on Friday. Alamo Group, Inc. has a 52 week low of $156.29 and a 52 week high of $233.29. The business’s 50 day moving average price is $194.88 and its 200 day moving average price is $186.44. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.07 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.06 and a beta of 1.11.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.36). The business had revenue of $373.65 million during the quarter, compared to analysts’ expectations of $405.18 million. Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. On average, sell-side analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The company 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio is 15.83%.

Institutional Trading of Alamo Group

Several hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its holdings in Alamo Group by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 1,947 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 45 shares during the period. Natixis Advisors LLC grew its position in shares of Alamo Group by 0.4% in the 3rd quarter. Natixis Advisors LLC now owns 15,926 shares of the industrial products company’s stock valued at $3,040,000 after buying an additional 61 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in Alamo Group by 1.5% in the third quarter. Hudson Edge Investment Partners Inc. now owns 4,372 shares of the industrial products company’s stock valued at $835,000 after acquiring an additional 65 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Alamo Group by 4.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,649 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 73 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Alamo Group by 3.2% during the third quarter. Amalgamated Bank now owns 3,054 shares of the industrial products company’s stock worth $583,000 after purchasing an additional 94 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Zacks Research downgraded shares of Alamo Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a report on Monday, December 29th. DA Davidson reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alamo Group in a research note on Monday, March 9th. Finally, CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.