Alamo Group (NYSE:ALG) Rating Lowered to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Alamo Group (NYSE:ALG – Free Report) from a buy rating to a hold rating in a research report report published on Sunday.

Other analysts have also recently issued research reports about the company. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $209.00 to $260.00 in a report on Monday, August 4th. Baird R W upgraded Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Finally, DA Davidson reiterated a “neutral” rating and set a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $234.00.

Check Out Our Latest Stock Report on ALG

Alamo Group Trading Down 0.4%

NYSE:ALG opened at $217.93 on Friday. The company has a market capitalization of $2.64 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10. The stock has a fifty day simple moving average of $220.57 and a 200-day simple moving average of $197.72. Alamo Group has a 52-week low of $157.07 and a 52-week high of $233.29. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The company had revenue of $419.07 million for the quarter, compared to analysts’ expectations of $406.75 million. On average, equities research analysts expect that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group’s dividend payout ratio is 12.22%.

Insider Activity at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the transaction, the chief executive officer directly owned 38,413 shares in the company, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can increased its position in Alamo Group by 2.4% in the second quarter. Bank of Montreal Can now owns 1,947 shares of the industrial products company’s stock worth $425,000 after buying an additional 45 shares during the period. Nisa Investment Advisors LLC increased its position in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after buying an additional 61 shares during the period. Smartleaf Asset Management LLC increased its position in Alamo Group by 31.6% in the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock worth $49,000 after buying an additional 65 shares during the period. Parallel Advisors LLC increased its position in Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock worth $29,000 after buying an additional 72 shares during the period. Finally, New York State Teachers Retirement System increased its position in Alamo Group by 4.1% in the first quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company’s stock worth $448,000 after buying an additional 100 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

About Alamo Group

(Get Free Report)

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.

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