Alamo Group (NYSE:ALG) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Alamo Group Inc. (NYSE:ALG) saw unusually-high trading volume on Wednesday . Approximately 48,147 shares changed hands during trading, a decline of 35% from the previous session’s volume of 73,808 shares.The stock last traded at $171.75 and had previously closed at $172.23.

Analyst Ratings Changes

ALG has been the subject of several recent analyst reports. DA Davidson boosted their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird reduced their price objective on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd.

Alamo Group Stock Performance

The company has a market cap of $2.10 billion, a PE ratio of 15.31 and a beta of 1.06. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $177.79 and its two-hundred day simple moving average is $187.24.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.44). The business had revenue of $416.30 million during the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same quarter in the prior year, the business earned $3.03 earnings per share. As a group, research analysts anticipate that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is presently 9.25%.

Insiders Place Their Bets

In other news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds and other institutional investors have recently bought and sold shares of ALG. Vanguard Group Inc. boosted its stake in Alamo Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after buying an additional 7,121 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Alamo Group by 48.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after buying an additional 193,463 shares during the period. Victory Capital Management Inc. boosted its stake in Alamo Group by 9.4% during the second quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock worth $66,888,000 after buying an additional 33,190 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Alamo Group by 16.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after buying an additional 52,250 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Alamo Group by 17.1% in the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after purchasing an additional 50,327 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.