Alamo Group (NYSE:ALG) Given New $217.00 Price Target at DA Davidson

Alamo Group (NYSE:ALG) had its price target trimmed by DA Davidson from $219.00 to $217.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also weighed in on ALG. Robert W. Baird lowered Alamo Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $224.00 to $177.00 in a report on Friday. Baird R W lowered Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

Alamo Group Stock Performance

ALG stock opened at $176.56 on Monday. The firm has a market cap of $2.13 billion, a PE ratio of 17.78 and a beta of 1.10. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $183.63 and a 200-day moving average of $184.13. Alamo Group has a 12-month low of $163.74 and a 12-month high of $228.88.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.16. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The company had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. As a group, sell-side analysts expect that Alamo Group will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio is currently 12.46%.

Insiders Place Their Bets

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the stock in a transaction 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 sale, the vice president now owns 3,360 shares in the company, valued at $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in shares of Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares in the last quarter. JNBA Financial Advisors purchased a new stake in shares of Alamo Group in the third quarter worth $37,000. Smartleaf Asset Management LLC raised its position in shares of Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after buying an additional 168 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Alamo Group in the fourth quarter worth $79,000. Finally, KBC Group NV raised its position in shares of Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after buying an additional 189 shares in 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.