Alamo Group (NYSE:ALG) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a report published on Tuesday morning.

Separately, DA Davidson raised their price objective on Alamo Group from $230.00 to $235.00 and gave the stock a buy rating in a research note on Tuesday, February 27th.

Alamo Group Price Performance

Shares of NYSE ALG opened at $205.02 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.99 and a current ratio of 3.76. The company has a market cap of $2.47 billion, a PE ratio of 18.05 and a beta of 1.04. The business has a 50-day simple moving average of $212.08 and a two-hundred day simple moving average of $198.28. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.22). The business had revenue of $417.54 million during the quarter. Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. As a group, equities analysts expect that Alamo Group will post 13.17 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, April 15th. Alamo Group’s payout ratio is 9.15%.

Insider Transactions at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of Alamo Group stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the transaction, the executive vice president now directly owns 19,206 shares in the company, valued at $4,299,647.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALG. Morgan Stanley raised its position in Alamo Group by 277.8% during the fourth quarter. Morgan Stanley now owns 278,133 shares of the industrial products company’s stock valued at $39,384,000 after acquiring an additional 204,507 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Alamo Group by 42.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock valued at $83,906,000 after acquiring an additional 119,636 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Alamo Group during the first quarter valued at approximately $12,844,000. T. Rowe Price Investment Management Inc. raised its position in Alamo Group by 8.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock valued at $96,065,000 after acquiring an additional 53,730 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Alamo Group by 19.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock valued at $73,223,000 after purchasing an additional 53,195 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

About Alamo Group

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.