Alamo Group (NYSE:ALG) Hits New 52-Week Low – Here’s What Happened

Alamo Group Inc. (NYSE:ALG)’s share price reached a new 52-week low on Monday . The company traded as low as $160.00 and last traded at $161.40, with a volume of 1549 shares traded. The stock had previously closed at $165.81.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $224.00 to $177.00 in a report on Friday, February 28th. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research note on Monday, March 3rd. Finally, DA Davidson dropped their target price on Alamo Group from $219.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, March 3rd.

Alamo Group Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The stock has a 50-day moving average price of $184.01 and a 200 day moving average price of $184.80. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 16.23 and a beta of 1.00.

Alamo Group (NYSE:ALG) last posted 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. The firm had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. As a group, equities research analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.74%. Alamo Group’s payout ratio is currently 12.46%.

Institutional Trading of Alamo Group

Several hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in shares of Alamo Group by 442.1% during the 4th 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 acquired a new stake in Alamo Group in the fourth quarter valued at $79,000. KBC Group NV raised its stake in shares of Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after buying an additional 189 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 69 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Alamo Group in the 4th quarter valued at approximately $200,000. 92.36% of the stock is owned by institutional investors and hedge funds.

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.