Alamo Group, Inc. (NYSE:ALG) Receives Consensus Rating of “Buy” from Brokerages

Alamo Group, Inc. (NYSE:ALG) has been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 1 year consensus price objective of $150.00 for the company and are predicting that the company will post $1.61 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Alamo Group an industry rank of 211 out of 255 based on the ratings given to related companies.

A number of analysts have weighed in on ALG shares. Dougherty & Co downgraded shares of Alamo Group from a “buy” rating to a “neutral” rating in a report on Sunday, November 3rd. ValuEngine downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Finally, Zacks Investment Research downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

Alamo Group stock traded down $1.90 during mid-day trading on Monday, reaching $126.96. The company had a trading volume of 40,826 shares, compared to its average volume of 68,591. The company has a quick ratio of 2.65, a current ratio of 4.36 and a debt-to-equity ratio of 0.27. Alamo Group has a 52 week low of $84.19 and a 52 week high of $131.61. The company has a 50 day moving average of $123.49 and a 200-day moving average of $114.73. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 21.41 and a beta of 0.73.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.34). Alamo Group had a net margin of 6.50% and a return on equity of 13.07%. The company had revenue of $271.83 million during the quarter. On average, analysts predict that Alamo Group will post 6.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.41%. This is an increase from Alamo Group’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, January 15th. Alamo Group’s dividend payout ratio (DPR) is presently 8.71%.

In other news, insider Weiss Gary sold 25,205,509 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1.18, for a total transaction of $29,742,500.62. 3.29% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in ALG. Tower Research Capital LLC TRC acquired a new stake in shares of Alamo Group during the 2nd quarter worth about $76,000. Point72 Hong Kong Ltd increased its position in shares of Alamo Group by 10,133.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 921 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 912 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Alamo Group by 20.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 819 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 137 shares in the last quarter. Bank of Montreal Can increased its position in shares of Alamo Group by 345.4% during the 2nd quarter. Bank of Montreal Can now owns 1,060 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 822 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Alamo Group during the 3rd quarter worth about $212,000. 94.43% of the stock is owned by institutional investors.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-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.

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