StockNews.com Upgrades Alamo Group (NYSE:ALG) to “Buy”

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, Robert W. Baird increased their target price on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

Alamo Group Stock Down 0.7 %

Shares of ALG opened at $183.86 on Wednesday. Alamo Group has a 12-month low of $163.74 and a 12-month high of $231.40. The firm has a market cap of $2.22 billion, a P/E ratio of 18.52 and a beta of 1.11. The company’s 50-day moving average price is $189.85 and its 200 day moving average price is $182.86. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is 12.08%.

Insider Activity

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the sale, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward Rizzuti sold 276 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the transaction, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares during the period. JNBA Financial Advisors acquired a new position in shares of Alamo Group in the 3rd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alamo Group in the 2nd quarter valued at $48,000. Quarry LP acquired a new stake in Alamo Group during the 2nd quarter worth $48,000. Finally, KBC Group NV grew its position in Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

About Alamo Group

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.