Alamo Group (NYSE:ALG) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Alamo Group (NYSE:ALGFree Report) from a hold rating to a buy rating in a research report report published on Tuesday.

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

View Our Latest Report on ALG

Alamo Group Stock Down 1.4 %

ALG stock opened at $203.27 on Tuesday. The stock’s 50 day simple moving average is $208.71 and its 200 day simple moving average is $189.80. The company has a market cap of $2.44 billion, a P/E ratio of 17.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.99 and a current ratio of 3.76. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40.

Alamo Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Tuesday, January 16th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, January 12th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. This is an increase from Alamo Group’s previous quarterly dividend of $0.22. Alamo Group’s payout ratio is 9.15%.

Insiders Place Their Bets

In related news, EVP Richard Hodges Raborn sold 606 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $212.24, for a total value of $128,617.44. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $1,916,951.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in Alamo Group by 33.5% in the second quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock worth $50,000 after buying an additional 68 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Alamo Group by 0.5% in the 3rd quarter. Alliancebernstein L.P. now owns 13,851 shares of the industrial products company’s stock worth $1,694,000 after acquiring an additional 70 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Alamo Group by 2.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,238 shares of the industrial products company’s stock valued at $596,000 after acquiring an additional 72 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Alamo Group by 0.8% during the third quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock valued at $1,592,000 after purchasing an additional 72 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Alamo Group by 0.6% during the third quarter. UBS Asset Management Americas Inc. now owns 13,052 shares of the industrial products company’s stock worth $1,596,000 after purchasing an additional 73 shares during the period. 91.15% of the stock is currently owned by hedge funds and other institutional investors.

About Alamo Group

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Alamo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alamo Group and related companies with MarketBeat.com's FREE daily email newsletter.