Alamo Group (NYSE:ALG) Stock Rating Lowered by StockNews.com

Alamo Group (NYSE:ALG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, DA Davidson upped their price target on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

Alamo Group Trading Down 1.0 %

Shares of NYSE ALG traded down $2.25 during trading on Tuesday, hitting $212.90. 46,025 shares of the company traded hands, compared to its average volume of 69,892. Alamo Group has a 1 year low of $157.74 and a 1 year high of $231.40. The company has a 50-day moving average price of $212.48 and a 200-day moving average price of $198.17. The firm has a market capitalization of $2.57 billion, a P/E ratio of 18.74 and a beta of 1.04. The company has a quick ratio of 1.99, a current ratio of 3.76 and a debt-to-equity ratio of 0.24.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The company had revenue of $417.54 million for the quarter. On average, equities analysts predict that Alamo Group will post 13.17 EPS for the current year.

Insider Buying and Selling

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Alamo Group by 1.7% in the 2nd quarter. BlackRock Inc. now owns 1,688,017 shares of the industrial products company’s stock valued at $310,443,000 after buying an additional 27,420 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alamo Group by 4.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock valued at $100,603,000 after buying an additional 36,290 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after purchasing an additional 7,121 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Alamo Group by 2.8% in the 4th quarter. Victory Capital Management Inc. now owns 685,079 shares of the industrial products company’s stock valued at $97,007,000 after purchasing an additional 18,713 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Alamo Group by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock valued at $96,065,000 after purchasing an additional 53,730 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.