Alamo Group (NYSE:ALG) Stock Gets Price Target Reduction from DA Davidson

Alamo Group (NYSE:ALG) had its target price reduced by DA Davidson from $188.00 to $161.00 in a research note released on Wednesday morning, Marketbeat.com reports. They currently have a neutral rating on the industrial products company’s stock.

ALG has been the subject of several other reports. Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 5th. Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $161.00.

Alamo Group Stock Down 1.0%

Alamo Group stock opened at $139.01 on Wednesday. The company has a 50 day moving average of $154.78 and a 200-day moving average of $166.56. The company has a quick ratio of 2.41, a current ratio of 4.19 and a debt-to-equity ratio of 0.19. Alamo Group has a twelve month low of $133.32 and a twelve month high of $219.88. The stock has a market capitalization of $1.69 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Monday, November 2nd. The industrial products company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.56). Alamo Group had a return on equity of 9.43% and a net margin of 4.72%. The company had revenue of $403.14 million for the quarter, compared to analyst estimates of $437.11 million. On average, equities research analysts anticipate that Alamo Group will post 9.74 EPS for the current fiscal year.

Alamo Group Announces Dividend

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 dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.0%. Alamo Group’s dividend payout ratio (DPR) is currently 21.22%.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 2,537 shares of Alamo Group stock in a transaction on Friday, September 4th. The stock was sold at an average price of $174.68, for a total value of $443,163.16. Following the completion of the transaction, the executive vice president directly owned 5,605 shares of the company’s stock, valued at $979,081.40. The trade was a 31.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.06% of the stock is currently owned by company insiders.

Institutional Trading of Alamo Group

Several large investors have recently modified their holdings of the stock. Value Holdings Management CO. LLC acquired a new stake in shares of Alamo Group in the 2nd quarter valued at approximately $2,467,000. Janus Henderson Group PLC grew its holdings in shares of Alamo Group by 13.8% during the 1st 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 bought a new position in Alamo Group in the 2nd quarter valued at approximately $9,803,000. Man Group plc bought a new position in Alamo Group in the 2nd quarter valued at approximately $2,299,000. Finally, Sei Investments Co. boosted its position in Alamo Group by 47.3% in the first quarter. Sei Investments Co. now owns 49,937 shares of the industrial products company’s stock valued at $8,236,000 after buying an additional 16,034 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

About Alamo Group

Alamo Group Inc. is a manufacturer of equipment used to maintain infrastructure and manage vegetation. Its products serve municipal, utility, contractor and agricultural customers, including equipment for roadside mowing, street and vegetation maintenance, snow removal and land management. The company also makes agricultural machinery such as rotary cutters, mowers, tillage and hay tools. Its product portfolio includes equipment sold under brands such as Bush Hog, Gradall, Ventrac and McConnel. Founded in 1969 and headquartered in Seguin, Texas, Alamo Group serves customers in North America and international markets through its manufacturing operations and dealer network.