Alamo Group (NYSE:ALG) Shares Gap Down to $195.24

Alamo Group Inc. (NYSE:ALG) gapped down prior to trading on Friday . The stock had previously closed at $195.24, but opened at $190.00. Alamo Group shares last traded at $189.33, with a volume of 13,484 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. DA Davidson upped their price target on shares of Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Alamo Group Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.99 and a current ratio of 3.76. The stock has a market capitalization of $2.34 billion, a P/E ratio of 17.26 and a beta of 1.07. The stock has a 50-day moving average price of $208.34 and a two-hundred day moving average price of $200.38.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). Alamo Group had a net margin of 7.92% and a return on equity of 15.07%. The company had revenue of $417.54 million for the quarter. On average, research analysts forecast that Alamo Group Inc. will post 13.17 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Tuesday, April 16th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.04 annualized dividend and a yield of 0.54%. Alamo Group’s payout ratio is 9.25%.

Insider Activity

In related news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the sale, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Alamo Group by 42.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock valued at $83,906,000 after purchasing an additional 119,636 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in Alamo Group during the 1st quarter valued at $12,844,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Alamo Group by 19.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock valued at $73,223,000 after buying an additional 53,195 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Alamo Group by 251.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock worth $7,643,000 after buying an additional 31,621 shares during the last quarter. Finally, RK Capital Management LLC bought a new stake in shares of Alamo Group in the third quarter worth $5,177,000. 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.