Alamo Group (NYSE:ALG) Rating Increased to Buy at StockNews.com

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

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

Alamo Group Trading Up 0.4 %

Shares of NYSE:ALG opened at $186.47 on Tuesday. The company has a market cap of $2.25 billion, a P/E ratio of 18.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a 1 year low of $163.74 and a 1 year high of $228.88. The stock’s fifty day moving average price is $184.55 and its 200-day moving average price is $183.90.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a dividend of $0.30 per share. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group’s dividend payout ratio (DPR) is currently 12.08%.

Insider Buying and Selling

In related news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 of the company’s stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Alamo Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock valued at $134,070,000 after acquiring an additional 2,361 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 4.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after acquiring an additional 30,826 shares during the period. Victory Capital Management Inc. lifted its position in Alamo Group by 8.0% during the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after acquiring an additional 33,294 shares during the period. State Street Corp lifted its position in Alamo Group by 2.6% during the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after acquiring an additional 10,013 shares during the period. Finally, Geode Capital Management LLC lifted its position in Alamo Group by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after acquiring an additional 670 shares during the period. 92.36% of the stock is owned by institutional investors.

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.