Alamo Group (NYSE:ALG) Stock Price Up 8.5% – Here’s Why

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

Analyst Ratings Changes

ALG has been the topic of several research analyst reports. DA Davidson lifted their price objective on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird lowered their price objective on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th.

Alamo Group Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. The stock’s 50 day simple moving average is $177.21 and its two-hundred day simple moving average is $181.93. The firm has a market capitalization of $2.26 billion, a PE ratio of 17.75 and a beta of 1.06.

Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The business had revenue of $416.30 million during the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same quarter last year, the business earned $3.03 earnings per share. On average, sell-side analysts forecast that Alamo Group Inc. will post 10.23 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently declared 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. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s payout ratio is presently 9.85%.

Insider Activity

In other news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a 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 the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. JNBA Financial Advisors purchased a new stake in Alamo Group in the third quarter valued at approximately $37,000. First Horizon Advisors Inc. raised its position in Alamo Group by 174.7% in the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alamo Group in the second quarter valued at approximately $48,000. Finally, Quarry LP acquired a new position in shares of Alamo Group in the second quarter worth $48,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.