Alamo Group, Inc. (ALG) Downgraded by ValuEngine
ValuEngine lowered shares of Alamo Group, Inc. (NYSE:ALG) from a buy rating to a hold rating in a report issued on Monday.
ALG has been the subject of a number of other research reports. Zacks Investment Research upgraded Alamo Group from a hold rating to a buy rating and set a $103.00 price objective for the company in a research note on Wednesday, September 6th. BidaskClub cut Alamo Group from a buy rating to a hold rating in a research note on Friday, June 23rd. Finally, Piper Jaffray Companies set a $104.00 price objective on Alamo Group and gave the company a buy rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $99.33.
Alamo Group (NYSE ALG) opened at 108.97 on Monday. The firm’s 50-day moving average is $95.90 and its 200-day moving average is $87.97. Alamo Group has a 52-week low of $58.30 and a 52-week high of $111.02. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.01 and a beta of 0.95.
Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.05. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. The company had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. Analysts predict that Alamo Group will post $4.21 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Monday, October 16th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, October 13th. Alamo Group’s dividend payout ratio (DPR) is presently 10.28%.
In other news, EVP Richard Hodges Raborn sold 364 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the sale, the executive vice president now owns 4,500 shares in the company, valued at $414,855. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Geoff Davies sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $98.16, for a total value of $392,640.00. Following the sale, the vice president now owns 3,800 shares of the company’s stock, valued at approximately $373,008. The disclosure for this sale can be found here. 3.99% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its stake in shares of Alamo Group by 150.1% during the second quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 704 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in Alamo Group by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 17 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Alamo Group by 10.0% during the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 156 shares during the period. Mason Street Advisors LLC grew its holdings in Alamo Group by 7.0% during the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock worth $168,000 after acquiring an additional 144 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Alamo Group by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 1,865 shares of the industrial products company’s stock worth $169,000 after acquiring an additional 825 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.
Alamo Group Company Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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