Alamo Group, Inc. (NYSE:ALG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Alamo Group, Inc. (NYSE:ALG) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $224.00.

A number of analysts have commented on ALG shares. Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. William Blair started coverage on shares of Alamo Group in a report on Monday, March 16th. They set an “outperform” rating for the company. Finally, DA Davidson lowered their target price on shares of Alamo Group from $190.00 to $188.00 and set a “neutral” rating for the company in a report on Monday, May 11th.

Alamo Group Price Performance

ALG opened at $152.84 on Wednesday. The company has a fifty day moving average price of $163.97 and a two-hundred day moving average price of $175.87. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. Alamo Group has a 52 week low of $145.76 and a 52 week high of $233.29. The firm has a market capitalization of $1.86 billion, a PE ratio of 18.28, a P/E/G ratio of 0.88 and a beta of 1.11.

Alamo Group (NYSE:ALG) last released its earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. The firm had revenue of $417.15 million during the quarter, compared to analyst estimates of $398.02 million. As a group, analysts anticipate that Alamo Group will post 10.61 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. Alamo Group’s payout ratio is 16.27%.

Insider Activity

In other news, Director Nina C. Grooms sold 499 shares of the business’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 completion of the transaction, the director owned 2,844 shares of the company’s stock, valued at $498,240.36. The trade was a 14.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward Rizzuti sold 600 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the transaction, the executive vice president directly owned 10,857 shares of the company’s stock, valued at $1,855,787.01. This trade represents a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alamo Group

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Alamo Group by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company’s stock valued at $134,000,000 after purchasing an additional 12,499 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Alamo Group by 9.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock valued at $113,562,000 after buying an additional 57,456 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Alamo Group by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 527,399 shares of the industrial products company’s stock valued at $87,006,000 after buying an additional 27,597 shares in the last quarter. First Trust Advisors LP lifted its stake in Alamo Group by 5.4% in the first quarter. First Trust Advisors LP now owns 469,289 shares of the industrial products company’s stock valued at $77,419,000 after buying an additional 24,184 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Alamo Group by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 462,758 shares of the industrial products company’s stock valued at $77,683,000 after buying an additional 31,860 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

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.