Alamo Group (NYSE:ALG) Lowered to “Hold” Rating by Baird R W

Alamo Group (NYSE:ALG) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird downgraded shares of Alamo Group from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $224.00 to $177.00 in a research report on Friday.

Alamo Group Trading Down 5.0 %

Shares of NYSE:ALG opened at $175.02 on Friday. Alamo Group has a 12 month low of $163.74 and a 12 month high of $228.88. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $183.83 and its 200 day simple moving average is $183.94. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 17.63 and a beta of 1.10.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 million. As a group, research analysts forecast that Alamo Group will post 9.53 EPS for the current fiscal year.

Insider Activity at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Alamo Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock valued at $134,070,000 after acquiring an additional 2,361 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Alamo Group by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock valued at $121,205,000 after acquiring an additional 30,826 shares during the period. Victory Capital Management Inc. grew its position in shares of Alamo Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock valued at $83,421,000 after acquiring an additional 33,294 shares during the period. State Street Corp grew its position in shares of Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after acquiring an additional 10,013 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Alamo Group by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after acquiring an additional 670 shares during the period. Institutional investors own 92.36% of the company’s stock.

Alamo Group Company Profile

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.