StockNews.com Upgrades Alamo Group (NYSE:ALG) to Buy

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a report issued on Tuesday morning.

Separately, Robert W. Baird lifted their price target on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th.

Alamo Group Trading Up 0.4 %

NYSE:ALG opened at $186.47 on Tuesday. The firm has a market cap of $2.25 billion, a PE ratio of 18.78 and a beta of 1.10. The stock has a fifty day moving average price of $184.55 and a 200 day moving average price of $183.90. Alamo Group has a 12-month low of $163.74 and a 12-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.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is 12.08%.

Insider Activity at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the transaction, the vice president now owns 3,360 shares in the company, valued at $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 available at the SEC website. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alamo Group

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in Alamo Group by 33.2% during the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 499 shares during the period. Advantage Alpha Capital Partners LP purchased a new stake in Alamo Group in the 3rd quarter valued at approximately $3,014,000. Barclays PLC lifted its stake in Alamo Group by 204.7% in the 3rd quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock valued at $4,039,000 after buying an additional 15,061 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alamo Group by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company’s stock valued at $13,790,000 after acquiring an additional 9,710 shares during the last quarter. Finally, State Street Corp raised its holdings in Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after acquiring an additional 10,013 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Company Profile

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.