Alamo Group (NYSE:ALG) Downgraded by StockNews.com to Hold

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

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

Alamo Group Stock Performance

ALG traded down $0.72 during midday trading on Monday, hitting $193.25. 94,371 shares of the company were exchanged, compared to its average volume of 72,634. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 17.19 and a beta of 1.07. The company’s 50 day simple moving average is $208.22 and its 200 day simple moving average is $200.81.

Alamo Group (NYSE:ALG) last posted its earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The firm had revenue of $425.59 million for the quarter. During the same quarter last year, the business earned $2.79 earnings per share. As a group, sell-side analysts predict that Alamo Group will post 13.17 earnings per share for the current year.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following 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 Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Alamo Group by 42.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock worth $83,906,000 after buying an additional 119,636 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Alamo Group during the 1st quarter worth approximately $12,844,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Alamo Group by 19.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock worth $73,223,000 after buying an additional 53,195 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Alamo Group by 251.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock worth $7,643,000 after buying an additional 31,621 shares during the last quarter. Finally, RK Capital Management LLC acquired a new stake in shares of Alamo Group during the 3rd quarter worth approximately $5,177,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

About Alamo Group

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.