Alamo Group (NYSE:ALG) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Separately, DA Davidson raised their price objective on Alamo Group from $230.00 to $235.00 and gave the company a buy rating in a research note on Tuesday, February 27th.

Alamo Group Trading Down 0.5 %

NYSE:ALG opened at $203.92 on Wednesday. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40. 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 stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 17.95 and a beta of 1.04. The firm has a fifty day simple moving average of $210.92 and a two-hundred day simple moving average of $199.29.

Alamo Group (NYSE:ALG) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The firm had revenue of $417.54 million during the quarter. Analysts expect that Alamo Group will post 13.17 EPS for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, April 15th. Alamo Group’s dividend payout ratio is currently 9.15%.

Insider Transactions at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction dated 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 owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alamo Group

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Alamo Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after acquiring an additional 7,121 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Alamo Group by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 403,017 shares of the industrial products company’s stock valued at $92,021,000 after purchasing an additional 3,827 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Alamo Group by 19.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock worth $73,223,000 after purchasing an additional 53,195 shares during the last quarter. Neumeier Poma Investment Counsel LLC grew its position in Alamo Group by 2.5% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 200,411 shares of the industrial products company’s stock worth $34,643,000 after purchasing an additional 4,855 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its position in Alamo Group by 3.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 135,873 shares of the industrial products company’s stock worth $23,487,000 after purchasing an additional 4,893 shares in the last quarter. 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.