Alamo Group (NYSE:ALG) Director Nina Grooms Sells 499 Shares of Stock

by · The Markets Daily

Alamo Group, Inc. (NYSE:ALG – Get Free Report) Director Nina Grooms sold 499 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total transaction of $87,419.81. Following the transaction, the director directly owned 2,844 shares of the company’s stock, valued at approximately $498,240.36. This represents a 14.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alamo Group Trading Down 1.3%

Shares of ALG traded down $2.23 during mid-day trading on Thursday, hitting $173.69. The company had a trading volume of 114,784 shares, compared to its average volume of 129,304. Alamo Group, Inc. has a 1-year low of $156.29 and a 1-year high of $233.29. The business’s 50-day simple moving average is $194.83 and its 200-day simple moving average is $187.11. The stock has a market cap of $2.11 billion, a PE ratio of 20.24, a P/E/G ratio of 1.06 and a beta of 1.11. 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 issued its quarterly earnings results on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.36). The company had revenue of $373.65 million for the quarter, compared to analyst estimates of $405.18 million. Alamo Group had a return on equity of 10.04% and a net margin of 6.47%. Sell-side analysts forecast that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were given a $0.34 dividend. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. 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%. Alamo Group’s dividend payout ratio is 15.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Alamo Group by 8.3% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,292 shares of the industrial products company’s stock valued at $1,811,000 after purchasing an additional 635 shares in the last quarter. AlphaQuest LLC acquired a new position in Alamo Group in the third quarter worth about $3,324,000. Tributary Capital Management LLC grew its stake in 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 worth $38,895,000 after purchasing an additional 97,898 shares in the last quarter. Jump Financial LLC increased its holdings in Alamo Group by 203.0% in the second quarter. Jump Financial LLC now owns 25,508 shares of the industrial products company’s stock valued at $5,570,000 after buying an additional 17,089 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Alamo Group by 2.1% during the second quarter. Geode Capital Management LLC now owns 243,470 shares of the industrial products company’s stock valued at $53,176,000 after buying an additional 4,927 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALG has been the subject of several research analyst reports. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research downgraded 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 report on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $225.00.

Get Our Latest Stock Report on ALG

About Alamo Group

(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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