Alamo Group (NYSE:ALG) Sets New 12-Month Low Following Analyst Downgrade

Alamo Group, Inc. (NYSE:ALG)’s share price reached a new 52-week low during trading on Monday after DA Davidson lowered their price target on the stock from $190.00 to $188.00. DA Davidson currently has a neutral rating on the stock. Alamo Group traded as low as $155.70 and last traded at $154.4430, with a volume of 92552 shares traded. The stock had previously closed at $163.76.

Several other research firms have also recently issued reports on ALG. William Blair started coverage on shares of Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating on the stock. Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Alamo Group has an average rating of “Moderate Buy” and an average target price of $224.00.

Insiders Place Their Bets

In other news, Director Nina C. Grooms sold 499 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total transaction of $87,419.81. Following the completion of the sale, the director owned 2,844 shares of the company’s stock, valued at approximately $498,240.36. This represents a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Paul Hureau acquired 460 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were bought at an average cost of $164.40 per share, with a total value of $75,624.00. Following the purchase, the chief executive officer owned 12,506 shares of the company’s stock, valued at approximately $2,055,986.40. This trade represents a 3.82% increase in their position. The SEC filing for this purchase provides additional information. 1.06% of the stock is owned by insiders.

Institutional Trading of Alamo Group

A number of institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its stake in Alamo Group by 136.2% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 177 shares during the period. Jones Financial Companies Lllp lifted its stake in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 314 shares during the period. MAI Capital Management purchased a new stake in Alamo Group in the third quarter worth $73,000. Kestra Advisory Services LLC purchased a new stake in Alamo Group in the fourth quarter worth $76,000. Finally, State of Wyoming lifted its stake in Alamo Group by 76.5% in the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

The business has a 50 day moving average of $174.04 and a 200 day moving average of $179.02. The company has a market cap of $1.89 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.32 and a quick ratio of 2.45.

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 return on equity of 9.71% and a net margin of 6.21%.The firm had revenue of $417.15 million for the quarter, compared to the consensus estimate of $398.02 million. As a group, research analysts predict that Alamo Group, Inc. will post 10.63 EPS for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.36 annualized dividend and a yield of 0.9%. Alamo Group’s dividend payout ratio (DPR) is currently 16.27%.

Alamo Group Company Profile

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.