Key Points
- EVP Edward Rizzuti sold 600 shares of Alamo Group on March 24 at an average price of $170.93 for about $102,558, reducing his stake by 5.24% to 10,857 shares, according to an SEC filing.
- Alamo Group missed quarterly expectations, reporting EPS of $1.70 and revenue of $373.65M versus analyst estimates of $2.06 EPS and $405.18M in revenue.
- The company raised its quarterly dividend to $0.34 (annualized $1.36, yield ~0.8%), and analysts hold a consensus Moderate Buy rating with an average price target of $225.
Alamo Group, Inc. (NYSE:ALG - Get Free Report) EVP Edward Rizzuti sold 600 shares of Alamo Group stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the executive vice president directly owned 10,857 shares in the company, valued at approximately $1,855,787.01. The trade was a 5.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Alamo Group Trading Down 1.0%
NYSE ALG opened at $169.49 on Thursday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.04 and a beta of 1.11. Alamo Group, Inc. has a 52-week low of $156.29 and a 52-week high of $233.29. The firm has a 50-day moving average price of $191.82 and a 200 day moving average price of $183.96. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17.
Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.36). Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. The firm had revenue of $373.65 million during the quarter, compared to analyst estimates of $405.18 million. Equities research analysts expect that Alamo Group, Inc. will post 9.53 EPS for the current year.
Alamo Group Increases Dividend
The firm 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 represents a $1.36 annualized dividend and a dividend yield of 0.8%. This is an increase from Alamo Group's previous quarterly dividend of $0.30. Alamo Group's payout ratio is 15.83%.
Institutional Investors Weigh In On Alamo Group
A number of institutional investors and hedge funds have recently modified their holdings of ALG. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Alamo Group by 8.3% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,292 shares of the industrial products company's stock worth $1,811,000 after acquiring an additional 635 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Alamo Group in the third quarter valued at approximately $3,324,000. Tributary Capital Management LLC grew its position in shares of Alamo Group by 92.5% in the third quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company's stock valued at $38,895,000 after purchasing an additional 97,898 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alamo Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 243,470 shares of the industrial products company's stock worth $53,176,000 after purchasing an additional 4,927 shares in the last quarter. Finally, Jump Financial LLC increased its stake in shares of Alamo Group by 203.0% during the 2nd quarter. Jump Financial LLC now owns 25,508 shares of the industrial products company's stock worth $5,570,000 after purchasing an additional 17,089 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.
Analysts Set New Price Targets
ALG has been the topic of a number of recent analyst reports. CJS Securities raised Alamo Group to a "strong-buy" rating in a report on Thursday, December 11th. William Blair initiated coverage on Alamo Group in a report on Monday, March 16th. They issued an "outperform" rating for the company. Zacks Research lowered shares of Alamo Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 5th. DA Davidson reaffirmed a "neutral" rating and set a $190.00 price target on shares of Alamo Group in a research note on Monday, March 9th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Alamo Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $225.00.
View Our Latest Stock Report on ALG
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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