Zacks Investment Research upgraded shares of Alamo Group, Inc. (NYSE:ALG) from a sell rating to a strong-buy rating in a research note published on Tuesday, November 7th. The firm currently has $131.00 target price on the industrial products company’s stock.
According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “
Several other equities research analysts have also recently issued reports on ALG. Piper Jaffray Companies restated a buy rating and set a $90.00 target price on shares of Alamo Group in a report on Friday, July 14th. BidaskClub cut Alamo Group from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, ValuEngine raised shares of Alamo Group from a hold rating to a buy rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $105.00.
Alamo Group (ALG) opened at $113.29 on Tuesday. The firm has a market capitalization of $1,317.83, a PE ratio of 26.28 and a beta of 0.94. Alamo Group has a 52 week low of $70.53 and a 52 week high of $114.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.85 and a current ratio of 4.48.
Alamo Group (NYSE:ALG) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.16. Alamo Group had a return on equity of 12.11% and a net margin of 5.56%. The firm had revenue of $240.46 million for the quarter, compared to analysts’ expectations of $223.40 million. equities research analysts expect that Alamo Group will post 4.34 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Monday, October 16th were paid a $0.10 dividend. The ex-dividend date was Friday, October 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.35%. Alamo Group’s dividend payout ratio (DPR) is 9.59%.
In other Alamo Group news, VP Geoff Davies sold 4,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $98.16, for a total value of $392,640.00. Following the completion of the transaction, the vice president now owns 3,800 shares in the company, valued at $373,008. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Hodges Raborn sold 2,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $223,060.00. Following the completion of the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at $501,885. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,364 shares of company stock valued at $649,257. Insiders own 3.99% of the company’s stock.
Large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC raised its holdings in shares of Alamo Group by 150.1% in the second quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock valued at $107,000 after buying an additional 704 shares during the last quarter. SG Americas Securities LLC purchased a new position in Alamo Group during the third quarter worth about $111,000. Pinebridge Investments L.P. raised its holdings in Alamo Group by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 17 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Alamo Group by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 1,865 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 825 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new position in Alamo Group during the second quarter worth about $210,000. 89.36% of the stock is owned by institutional investors and hedge funds.
Alamo Group Company Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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