Shares of Alamo Group, Inc. (NYSE:ALG) reached a new 52-week low during trading on Thursday . The stock traded as low as $88.11 and last traded at $87.18, with a volume of 1032 shares. The stock had previously closed at $90.77.
ALG has been the topic of several analyst reports. Zacks Investment Research raised Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a report on Tuesday, August 7th. ValuEngine raised Alamo Group from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd.
The firm has a market capitalization of $1.07 billion, a P/E ratio of 18.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.66 and a quick ratio of 2.92.
Alamo Group (NYSE:ALG) last posted its earnings results on Wednesday, August 1st. The industrial products company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.37 by $0.16. The firm had revenue of $257.13 million for the quarter, compared to analyst estimates of $237.40 million. Alamo Group had a return on equity of 13.31% and a net margin of 5.43%. As a group, research analysts predict that Alamo Group, Inc. will post 5.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Monday, October 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, October 12th. Alamo Group’s payout ratio is currently 9.50%.
In other Alamo Group news, VP Richard J. Wehrle sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $95.05, for a total value of $570,300.00. Following the sale, the vice president now directly owns 16,404 shares of the company’s stock, valued at $1,559,200.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dan Edward Malone sold 1,964 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $96.13, for a total value of $188,799.32. Following the completion of the sale, the vice president now directly owns 11,225 shares in the company, valued at $1,079,059.25. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ALG. Wells Fargo & Company MN grew its holdings in Alamo Group by 4.0% in the first quarter. Wells Fargo & Company MN now owns 19,168 shares of the industrial products company’s stock valued at $2,107,000 after purchasing an additional 745 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Alamo Group by 12.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 70,130 shares of the industrial products company’s stock valued at $7,708,000 after acquiring an additional 7,554 shares in the last quarter. BlackRock Inc. lifted its position in shares of Alamo Group by 2.9% in the first quarter. BlackRock Inc. now owns 1,879,794 shares of the industrial products company’s stock valued at $206,589,000 after acquiring an additional 53,829 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Alamo Group by 39.0% in the first quarter. New York State Common Retirement Fund now owns 14,593 shares of the industrial products company’s stock valued at $1,604,000 after acquiring an additional 4,093 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Alamo Group by 3.4% in the first quarter. California Public Employees Retirement System now owns 23,924 shares of the industrial products company’s stock valued at $2,629,000 after acquiring an additional 777 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.
About Alamo Group (NYSE:ALG)
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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