Alamo Group (NYSE:ALG) Shares Up 8.5% – What’s Next?

Alamo Group Inc. (NYSE:ALG)’s share price rose 8.5% on Friday . The company traded as high as $183.94 and last traded at $183.94. Approximately 8,387 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 73,973 shares. The stock had previously closed at $169.54.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALG. Robert W. Baird dropped 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 report on Friday, August 2nd. DA Davidson upped their price target on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Alamo Group Trading Up 9.8 %

The business’s 50 day simple moving average is $177.14 and its 200-day simple moving average is $182.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. The stock has a market capitalization of $2.25 billion, a P/E ratio of 16.05 and a beta of 1.06.

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

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. Alamo Group’s payout ratio is currently 9.85%.

Insider Activity

In related news, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction of $57,409.38. Following the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction dated Wednesday, August 28th. The stock was 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 owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This trade represents 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 Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 7,121 shares during the period. Diversified Trust Co lifted its holdings in shares of Alamo Group by 5.2% in the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 72 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Alamo Group by 9.4% during the first quarter. BNP Paribas Financial Markets now owns 9,016 shares of the industrial products company’s stock worth $2,059,000 after buying an additional 774 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of Alamo Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 9,041 shares of the industrial products company’s stock worth $2,064,000 after buying an additional 117 shares in the last quarter. Finally, Tectonic Advisors LLC acquired a new stake in Alamo Group in the 1st quarter valued at approximately $454,000. 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.