Alamo Group, Inc. (NYSE:ALG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Alamo Group, Inc. (NYSE:ALG) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $224.00.

ALG has been the topic of a number of recent research reports. 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 downgraded shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research note on Wednesday, July 1st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALG. Argent Capital Management LLC boosted its holdings in Alamo Group by 55.7% in the first quarter. Argent Capital Management LLC now owns 6,275 shares of the industrial products company’s stock valued at $1,035,000 after purchasing an additional 2,244 shares during the last quarter. Bank of America Corp DE increased its holdings in Alamo Group by 0.3% during the 1st quarter. Bank of America Corp DE now owns 110,270 shares of the industrial products company’s stock worth $18,191,000 after purchasing an additional 349 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Alamo Group during the 1st quarter worth approximately $840,000. Janus Henderson Group PLC raised its position in shares of Alamo Group by 13.8% in 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 in the last quarter. Finally, Amundi raised its position in shares of Alamo Group by 78.6% in the 1st quarter. Amundi now owns 3,338 shares of the industrial products company’s stock valued at $551,000 after purchasing an additional 1,469 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Price Performance

ALG stock opened at $163.72 on Thursday. The firm has a market cap of $1.99 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. 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 1 year low of $145.76 and a 1 year high of $233.29. The stock has a 50-day simple moving average of $157.98 and a 200-day simple moving average of $174.07.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, topping 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 firm had revenue of $417.15 million during the quarter, compared to analysts’ expectations of $398.02 million. On average, equities analysts predict that Alamo Group will post 10.65 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, July 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is currently 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.