Alamo Group (NYSE:ALG) Price Target Cut to $217.00 by Analysts at Robert W. Baird

Alamo Group (NYSE:ALG) had its price target reduced by Robert W. Baird from $223.00 to $217.00 in a research report released on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

ALG has been the topic of a number of other research reports. StockNews.com downgraded Alamo Group from a buy rating to a hold rating in a research report on Wednesday, July 17th. DA Davidson lowered their price target on Alamo Group from $235.00 to $225.00 and set a buy rating on the stock in a research report on Tuesday, May 7th.

Alamo Group Price Performance

NYSE:ALG traded down $9.69 during trading hours on Friday, hitting $175.09. 167,200 shares of the company’s stock traded hands, compared to its average volume of 88,801. The firm has a market cap of $2.11 billion, a P/E ratio of 15.58 and a beta of 1.04. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The business’s fifty day simple moving average is $179.92 and its two-hundred day simple moving average is $198.07. The company has a quick ratio of 2.49, a current ratio of 4.37 and a debt-to-equity ratio of 0.28.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The firm had revenue of $416.30 million for the quarter. During the same quarter last year, the firm earned $3.03 EPS. On average, research analysts anticipate that Alamo Group will post 12.3 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were issued a $0.26 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. Alamo Group’s dividend payout ratio is currently 9.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd raised its holdings in Alamo Group by 62.4% in the 4th quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock worth $4,002,000 after acquiring an additional 7,311 shares during the last quarter. RK Capital Management LLC raised its holdings in Alamo Group by 81.2% in the 4th quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock worth $11,405,000 after acquiring an additional 24,310 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Alamo Group in the 1st quarter worth approximately $1,067,000. Louisiana State Employees Retirement System purchased a new position in Alamo Group in the 4th quarter worth approximately $1,093,000. Finally, Janus Henderson Group PLC raised its holdings in Alamo Group by 42.4% in the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after acquiring an additional 51,292 shares during the last quarter. Hedge funds and other institutional investors 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.