Alamo Group, Inc. (ALG) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Alamo Group, Inc. (NYSE:ALG) from a hold rating to a buy rating in a research report sent to investors on Thursday, June 29th.

Several other brokerages have also issued reports on ALG. Zacks Investment Research lowered Alamo Group from a hold rating to a sell rating in a report on Tuesday, March 21st. Seaport Global Securities increased their price target on Alamo Group from $71.00 to $80.00 and gave the stock a neutral rating in a report on Monday, May 8th.

Shares of Alamo Group (ALG) traded down 0.37% during midday trading on Thursday, reaching $93.16. The company had a trading volume of 36,334 shares. The stock has a market capitalization of $1.08 billion, a PE ratio of 24.78 and a beta of 0.95. Alamo Group has a 12-month low of $58.30 and a 12-month high of $95.62. The stock’s 50 day moving average is $91.99 and its 200-day moving average is $81.69.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 17th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Thursday, July 13th. Alamo Group’s dividend payout ratio (DPR) is presently 10.64%.

In related news, CEO Ronald A. Robinson sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $83.76, for a total transaction of $2,094,000.00. Following the completion of the sale, the chief executive officer now directly owns 222,575 shares of the company’s stock, valued at $18,642,882. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dan Edward Malone sold 900 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $82.02, for a total value of $73,818.00. Following the sale, the vice president now directly owns 10,750 shares of the company’s stock, valued at $881,715. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,235 shares of company stock valued at $3,314,748. Company insiders own 3.99% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund increased its stake in shares of Alamo Group by 1.2% in the second quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock worth $628,000 after buying an additional 80 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Alamo Group during the second quarter worth approximately $599,000. Great West Life Assurance Co. Can increased its stake in shares of Alamo Group by 5.4% in the second quarter. Great West Life Assurance Co. Can now owns 13,144 shares of the industrial products company’s stock worth $1,193,000 after buying an additional 670 shares during the last quarter. Strs Ohio raised its position in shares of Alamo Group by 6.1% in the second quarter. Strs Ohio now owns 3,500 shares of the industrial products company’s stock valued at $317,000 after buying an additional 200 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Alamo Group during the second quarter valued at $402,000. 89.92% of the stock is owned by institutional investors.

Alamo Group Company Profile

Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.

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