Alamo Group (NYSE:ALG) Trading Down 6.7% – Time to Sell?

Alamo Group Inc. (NYSE:ALG) fell 6.7% during mid-day trading on Friday . The stock traded as low as $172.76 and last traded at $171.97. 57,942 shares were traded during trading, a decline of 39% from the average session volume of 94,371 shares. The stock had previously closed at $184.26.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lowered shares of Alamo Group from an “outperform” rating to a “neutral” rating and cut their price target for the company from $224.00 to $177.00 in a report on Friday. Baird R W downgraded Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday. Finally, StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th.

Alamo Group Trading Down 5.0 %

The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $183.83 and a 200-day moving average price of $184.03. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.63 and a beta of 1.10.

Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.16. The firm had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. Research analysts predict that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is 12.08%.

Insider Activity at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the transaction, the vice president now owns 3,360 shares in the company, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Alamo Group during the third quarter valued at approximately $35,759,000. Bank of America Corp DE boosted its stake in Alamo Group by 826.1% during the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company’s stock worth $24,260,000 after buying an additional 116,404 shares in the last quarter. SG Capital Management LLC bought a new stake in Alamo Group in the 4th quarter valued at $16,971,000. Ameriprise Financial Inc. raised its stake in shares of Alamo Group by 338.4% in the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company’s stock valued at $21,539,000 after buying an additional 89,430 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Alamo Group by 279.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 55,068 shares of the industrial products company’s stock worth $10,238,000 after acquiring an additional 40,549 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

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.