Alamo Group (NYSE:ALG) Hits New 1-Year Low – What’s Next?

Shares of Alamo Group, Inc. (NYSE:ALG) reached a new 52-week low during trading on Thursday. The stock traded as low as $143.00 and last traded at $143.4270, with a volume of 10,702 shares trading hands. The stock had previously closed at $144.29.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Alamo Group has an average rating of “Moderate Buy” and an average target price of $188.00.

Alamo Group Price Performance

The stock has a 50-day moving average of $159.56 and a two-hundred day moving average of $169.04. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.08. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. The firm had revenue of $450.73 million for the quarter, compared to the consensus estimate of $437.48 million. On average, analysts anticipate that Alamo Group, Inc. will post 10.52 EPS for the current year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Thursday, October 15th were issued a $0.34 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. Alamo Group’s dividend payout ratio is currently 16.31%.

Insiders Place Their Bets

In other news, EVP Edward Rizzuti sold 2,715 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the transaction, the executive vice president directly owned 8,142 shares of the company’s stock, valued at approximately $1,338,626.22. This represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

A number of large investors have recently bought and sold shares of the business. Value Holdings Management CO. LLC bought a new stake in Alamo Group during the second quarter valued at about $2,467,000. Janus Henderson Group PLC grew its position in shares of Alamo Group by 13.8% in the first quarter. Janus Henderson Group PLC now owns 167,983 shares of the industrial products company’s stock valued at $27,713,000 after purchasing an additional 20,410 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Alamo Group in the second quarter valued at about $9,803,000. Man Group plc bought a new position in shares of Alamo Group in the second quarter worth about $2,299,000. Finally, Sei Investments Co. increased its stake in shares of Alamo Group by 47.3% in the first quarter. Sei Investments Co. now owns 49,937 shares of the industrial products company’s stock worth $8,236,000 after purchasing an additional 16,034 shares during the period. 92.36% of the stock is currently owned by institutional investors.

About Alamo Group

Alamo Group Inc (NYSE: ALG) manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company’s product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.