Alamo Group Inc. (ALG) Upgraded by Zacks Investment Research to Hold
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. “
Separately, Piper Jaffray Cos. reaffirmed an overweight rating and set a $70.00 price objective (up previously from $68.00) on shares of Alamo Group in a report on Wednesday, August 10th.
Shares of Alamo Group (NYSE:ALG) traded down 0.18% during mid-day trading on Monday, reaching $65.90. 3,552 shares of the company traded hands. Alamo Group has a 52-week low of $43.98 and a 52-week high of $68.04. The company’s 50 day moving average is $64.94 and its 200 day moving average is $61.87. The stock has a market capitalization of $757.72 million, a price-to-earnings ratio of 16.73 and a beta of 0.92.
Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by $0.09. Alamo Group had a return on equity of 12.34% and a net margin of 5.16%. The business had revenue of $211.50 million for the quarter, compared to analyst estimates of $219.74 million. On average, equities analysts forecast that Alamo Group will post $3.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, October 12th. Alamo Group’s payout ratio is currently 9.14%.
In related news, VP Richard J. Wehrle sold 2,500 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $63.59, for a total transaction of $158,975.00. Following the transaction, the vice president now directly owns 11,649 shares in the company, valued at $740,759.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.63% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ALG. Aperio Group LLC increased its position in Alamo Group by 41.1% in the first quarter. Aperio Group LLC now owns 6,143 shares of the company’s stock valued at $342,000 after buying an additional 1,788 shares during the period. Franklin Resources Inc. increased its position in Alamo Group by 15.9% in the first quarter. Franklin Resources Inc. now owns 441,740 shares of the company’s stock valued at $24,609,000 after buying an additional 60,630 shares during the period. Spark Investment Management LLC acquired a new position in Alamo Group during the first quarter valued at $328,000. Neumeier Poma Investment Counsel LLC increased its position in Alamo Group by 4.5% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 131,375 shares of the company’s stock valued at $7,319,000 after buying an additional 5,650 shares during the period. Finally, AXA acquired a new position in Alamo Group during the first quarter valued at $1,242,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.
About Alamo Group
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. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
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