StockNews.com upgraded shares of Alamo Group (NYSE:ALG – Free Report) from a hold rating to a buy rating in a research report released on Wednesday morning.
Separately, DA Davidson lifted their price target on shares of Alamo Group from $230.00 to $235.00 and gave the stock a buy rating in a research note on Tuesday, February 27th.
Read Our Latest Stock Report on ALG
Alamo Group Trading Down 0.6 %
Alamo Group (NYSE:ALG – Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. The firm had revenue of $417.54 million during the quarter. Equities research analysts anticipate that Alamo Group will post 13.17 EPS for the current fiscal year.
Alamo Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Alamo Group’s dividend payout ratio is presently 9.15%.
Insider Transactions at Alamo Group
In other news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the sale, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.
Hedge Funds Weigh In On Alamo Group
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after acquiring an additional 7,121 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Alamo Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 403,017 shares of the industrial products company’s stock valued at $92,021,000 after acquiring an additional 3,827 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Alamo Group by 19.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock valued at $73,223,000 after acquiring an additional 53,195 shares during the period. Neumeier Poma Investment Counsel LLC increased its stake in Alamo Group by 2.5% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 200,411 shares of the industrial products company’s stock valued at $34,643,000 after buying an additional 4,855 shares during the period. Finally, Kennedy Capital Management LLC increased its stake in Alamo Group by 3.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 135,873 shares of the industrial products company’s stock valued at $23,487,000 after buying an additional 4,893 shares during the period. 92.36% of the stock is 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.
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