Alamo Group (NYSE:ALG) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a research report sent to investors on Sunday.

Several other analysts have also recently weighed in on the stock. Baird R W raised shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. DA Davidson reiterated a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a research note on Tuesday, July 22nd. Finally, Robert W. Baird upgraded shares of Alamo Group from a “neutral” rating to an “outperform” rating and increased their price target for the company from $209.00 to $260.00 in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Alamo Group has an average rating of “Buy” and an average price target of $234.00.

Alamo Group Trading Down 0.4%

NYSE ALG opened at $217.93 on Friday. The firm’s 50-day moving average is $220.57 and its two-hundred day moving average is $197.72. Alamo Group has a 12 month low of $157.07 and a 12 month high of $233.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76. The stock has a market capitalization of $2.64 billion, a P/E ratio of 22.19, a PEG ratio of 1.14 and a beta of 1.10.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.12). The business had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. On average, sell-side analysts anticipate that Alamo Group will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group’s dividend payout ratio (DPR) is 12.22%.

Insiders Place Their Bets

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the transaction, the chief executive officer directly owned 38,413 shares in the company, valued at $8,534,984.47. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ALG. Parallel Advisors LLC grew its position in Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock valued at $29,000 after buying an additional 72 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 125 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 61 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Alamo Group by 31.6% in the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 65 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 314 shares during the period. 92.36% of the stock is currently 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.