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

Shares of Alamo Group, Inc. (NYSE:ALG) hit 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 analysts also recently issued reports on the stock. Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research report on Friday, March 27th. Finally, William Blair assumed coverage on shares of Alamo Group in a research report on Monday, March 16th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Insider Buying and Selling at Alamo Group

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

Institutional Investors Weigh In On Alamo Group

A number of hedge funds have recently made changes to their positions in ALG. Global Retirement Partners LLC raised its stake in shares of Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares during the period. MAI Capital Management bought a new stake in shares of Alamo Group during the 3rd quarter worth $73,000. Kestra Advisory Services LLC bought a new stake in shares of Alamo Group during the 4th quarter worth $76,000. Finally, State of Wyoming raised its stake in shares of Alamo Group by 76.5% during the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 205 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Down 5.4%

The company has a market capitalization of $1.89 billion, a P/E ratio of 18.53, a PEG ratio of 0.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. The stock has a 50 day moving average price of $174.04 and a 200 day moving average price of $179.02.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $417.15 million for the quarter, compared to analysts’ expectations of $398.02 million. Equities research analysts forecast that Alamo Group, Inc. will post 10.63 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Alamo Group’s payout ratio is presently 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.