Alamo Group, Inc. (NYSE:ALG) Receives $222.33 Average Price Target from Analysts

Shares of Alamo Group, Inc. (NYSE:ALG) have been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $222.3333.

Several equities analysts have commented on ALG shares. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. DA Davidson decreased their target price on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. CJS Securities raised Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th.

Institutional Investors Weigh In On Alamo Group

Several institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC boosted its position 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 acquiring an additional 177 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Alamo Group by 3,140.0% during the first 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 last quarter. MAI Capital Management acquired a new position in Alamo Group in the third quarter valued at approximately $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Alamo Group in the second quarter valued at approximately $87,000. Finally, Kestra Advisory Services LLC purchased a new position in Alamo Group in the fourth quarter valued at approximately $76,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Stock Down 1.4%

Shares of ALG opened at $213.51 on Monday. The company’s 50-day simple moving average is $193.64 and its 200-day simple moving average is $189.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.72 and a current ratio of 4.43. Alamo Group has a 1 year low of $156.29 and a 1 year high of $233.29. The stock has a market capitalization of $2.59 billion, a PE ratio of 22.15, a P/E/G ratio of 1.19 and a beta of 1.10.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 16th were issued a dividend of $0.34 per share. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, January 16th. This represents a $1.36 annualized dividend and a yield of 0.6%. Alamo Group’s dividend payout ratio (DPR) is presently 14.11%.

About Alamo Group

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.