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

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a report released on Tuesday morning.

Separately, Robert W. Baird upped their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Alamo Group Price Performance

NYSE:ALG opened at $184.04 on Tuesday. Alamo Group has a one year low of $163.74 and a one year high of $228.88. The company has a market cap of $2.22 billion, a P/E ratio of 18.53 and a beta of 1.10. The firm’s fifty day moving average price is $184.09 and its two-hundred day moving average price is $183.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Equities analysts expect that Alamo Group will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is presently 12.08%.

Insider Activity

In other news, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors have recently modified their holdings of ALG. Nisa Investment Advisors LLC boosted its position in shares of Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares during the period. JNBA Financial Advisors bought a new stake in Alamo Group during the third quarter worth about $37,000. Smartleaf Asset Management LLC lifted its position in Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 168 shares during the period. Lazard Asset Management LLC bought a new stake in Alamo Group during the fourth quarter worth about $79,000. Finally, KBC Group NV lifted its position in Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares during the period. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

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.