Alamo Group, Inc. (NYSE:ALG) Given Average Rating of “Moderate Buy” by Analysts

Shares of Alamo Group, Inc. (NYSE:ALG) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three 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 1-year target price among brokers that have updated their coverage on the stock in the last year is $224.00.

ALG has been the topic of several research analyst reports. Weiss Ratings cut shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. DA Davidson restated a “neutral” rating and set a $188.00 target price on shares of Alamo Group in a research report on Wednesday. Finally, William Blair assumed coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating on the stock.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently bought and sold shares of ALG. Natixis Advisors LLC increased its holdings 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 worth $3,040,000 after buying an additional 61 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Alamo Group by 4.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,649 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 73 shares in the last quarter. State of Alaska Department of Revenue grew its position in Alamo Group by 1.7% in the fourth quarter. State of Alaska Department of Revenue now owns 6,250 shares of the industrial products company’s stock worth $1,048,000 after acquiring an additional 106 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alamo Group by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,970 shares of the industrial products company’s stock valued at $4,192,000 after acquiring an additional 117 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Alamo Group by 1.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,744 shares of the industrial products company’s stock valued at $1,472,000 after acquiring an additional 130 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Price Performance

ALG stock opened at $170.35 on Friday. The firm has a 50 day moving average of $158.61 and a 200-day moving average of $174.92. The firm has a market capitalization of $2.07 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.09. Alamo Group has a 12 month low of $145.76 and a 12 month high of $233.29. The company has a current ratio of 4.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.23.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. The business had revenue of $417.15 million for the quarter, compared to analyst estimates of $398.02 million. As a group, sell-side analysts predict that Alamo Group will post 10.65 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Alamo Group’s payout ratio is presently 16.27%.

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.