Key Points
- Director Nina Grooms sold 499 shares on March 11 at an average price of $175.19 for proceeds of $87,419.81, reducing her stake by 14.93% to 2,844 shares (≈$498,240), according to an SEC filing.
- Alamo Group missed quarterly expectations, reporting $1.70 EPS vs. $2.06 expected and revenue of $373.65M vs. $405.18M in the quarter ended March 2.
- The company raised its quarterly dividend to $0.34 from $0.30 (annualized $1.36, yield ~0.8%), while analysts remain mixed with a consensus "Hold" and a $225 price target.
Alamo Group, Inc. (NYSE:ALG - Get Free Report) Director Nina Grooms sold 499 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total value of $87,419.81. Following the sale, the director owned 2,844 shares in the company, valued at approximately $498,240.36. This represents a 14.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Alamo Group Stock Performance
Shares of Alamo Group stock traded down $0.51 during trading hours on Friday, reaching $169.64. The company had a trading volume of 61,834 shares, compared to its average volume of 130,131. The firm has a market cap of $2.06 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.09 and a beta of 1.11. Alamo Group, Inc. has a one year low of $156.29 and a one year high of $233.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.57 and a quick ratio of 2.82. The business has a fifty day simple moving average of $194.87 and a 200 day simple moving average of $186.99.
Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.36). Alamo Group had a return on equity of 10.04% and a net margin of 6.47%.The company had revenue of $373.65 million for the quarter, compared to analysts' expectations of $405.18 million. On average, analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.
Alamo Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from Alamo Group's previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. Alamo Group's payout ratio is currently 15.83%.
Hedge Funds Weigh In On Alamo Group
A number of institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Alamo Group by 72.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 230,180 shares of the industrial products company's stock worth $38,641,000 after acquiring an additional 96,369 shares during the last quarter. Invesco Ltd. raised its position in Alamo Group by 38.0% during the fourth quarter. Invesco Ltd. now owns 130,632 shares of the industrial products company's stock valued at $21,929,000 after purchasing an additional 35,974 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Alamo Group during the fourth quarter valued at about $367,000. Mackenzie Financial Corp purchased a new stake in Alamo Group during the fourth quarter valued at about $247,000. Finally, Empowered Funds LLC lifted its stake in Alamo Group by 23.5% during the fourth quarter. Empowered Funds LLC now owns 2,451 shares of the industrial products company's stock worth $411,000 after purchasing an additional 467 shares during the last quarter. Institutional investors own 92.36% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on ALG shares. CJS Securities upgraded shares of Alamo Group to a "strong-buy" rating in a research note on Thursday, December 11th. DA Davidson reaffirmed a "neutral" rating and issued a $190.00 price target on shares of Alamo Group in a report on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of Alamo Group in a research note on Monday, December 29th. Finally, Zacks Research cut Alamo Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $225.00.
Check Out Our Latest Research Report on Alamo Group
Alamo Group Company Profile
(
Get Free Report)
Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.
The company operates through two primary segments: Agricultural and Industrial.
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