Shares of Alamo Group, Inc. (NYSE:ALG) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating. Alamo Group’s rating score has improved by 66.7% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Zacks has also assigned Alamo Group an industry rank of 186 out of 257 based on the ratings given to related companies.
ALG has been the topic of several recent research reports. ValuEngine cut shares of Alamo Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Sidoti raised shares of Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 target price on the stock in a research note on Wednesday, October 24th. Finally, Zacks Investment Research raised shares of Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Tuesday, August 7th.
Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, November 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.75. Alamo Group had a net margin of 6.04% and a return on equity of 13.85%. The company had revenue of $257.57 million for the quarter.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Monday, October 15th were given a dividend of $0.11 per share. The ex-dividend date was Friday, October 12th. This represents a $0.44 annualized dividend and a dividend yield of 0.54%. Alamo Group’s payout ratio is 9.50%.
In other news, VP Richard J. Wehrle sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $95.05, for a total transaction of $570,300.00. Following the transaction, the vice president now owns 16,404 shares of the company’s stock, valued at approximately $1,559,200.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.48% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC boosted its position in shares of Alamo Group by 4.8% during the 3rd quarter. Teachers Advisors LLC now owns 19,143 shares of the industrial products company’s stock valued at $1,754,000 after acquiring an additional 883 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in shares of Alamo Group by 49.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 6,932 shares of the industrial products company’s stock valued at $635,000 after acquiring an additional 2,303 shares during the last quarter. NWQ Investment Management Company LLC acquired a new position in shares of Alamo Group during the 3rd quarter valued at about $27,166,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Alamo Group during the 3rd quarter valued at about $907,000. Finally, King Luther Capital Management Corp boosted its position in shares of Alamo Group by 394.1% during the 3rd quarter. King Luther Capital Management Corp now owns 30,215 shares of the industrial products company’s stock valued at $2,768,000 after acquiring an additional 24,100 shares during the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.
About Alamo Group
Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.
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