Alamo Group (NYSE:ALG) Lowered to “Neutral” Rating by Robert W. Baird

Robert W. Baird downgraded shares of Alamo Group (NYSE:ALG) from an outperform rating to a neutral rating in a research report sent to investors on Friday, MarketBeat reports. They currently have $177.00 price target on the industrial products company’s stock, down from their previous price target of $224.00.

Separately, StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday.

Alamo Group Stock Down 5.0 %

NYSE:ALG opened at $175.02 on Friday. The company has a market cap of $2.11 billion, a PE ratio of 17.63 and a beta of 1.10. Alamo Group has a twelve month low of $163.74 and a twelve month high of $228.88. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $183.83 and its two-hundred day moving average is $183.94.

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

Alamo Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.69%. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group’s payout ratio is presently 12.08%.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the sale, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Investment Partners LLC lifted its stake in Alamo Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 56 shares during the period. Huntington National Bank lifted its stake in shares of Alamo Group by 10.4% in the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 63 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Alamo Group by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 69 shares during the period. Aurora Investment Counsel lifted its stake in shares of Alamo Group by 1.5% in the 3rd quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock valued at $1,034,000 after purchasing an additional 85 shares during the period. Finally, FORA Capital LLC lifted its stake in shares of Alamo Group by 6.7% in the 3rd quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 88 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.