Alamo Group (NYSE:ALG) Lowered to Hold Rating by Baird R W

Baird R W downgraded shares of Alamo Group (NYSE:ALG - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Friday morning,Zacks.com reports.

Several other brokerages have also commented on ALG. Robert W. Baird lowered shares of Alamo Group from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $224.00 to $177.00 in a research note on Friday, February 28th. StockNews.com upgraded Alamo Group from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

Alamo Group Stock Performance

NYSE:ALG traded up $3.52 during midday trading on Friday, reaching $178.33. 119,199 shares of the company traded hands, compared to its average volume of 104,731. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.96 and a beta of 1.10. The company has a fifty day moving average price of $183.36 and a 200 day moving average price of $184.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a twelve month low of $163.74 and a twelve month high of $228.88.

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Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. On average, analysts expect that Alamo Group will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, January 16th. This is a positive change from Alamo Group's previous quarterly dividend of $0.26. Alamo Group's dividend payout ratio (DPR) is currently 12.46%.

Insider Buying and Selling

In other news, VP Janet S. Pollock sold 257 shares of the business'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 owns 3,360 shares of the company's stock, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning grew its stake in shares of Alamo Group by 33.2% in the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company's stock worth $361,000 after purchasing an additional 499 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in Alamo Group in the third quarter worth approximately $3,014,000. Barclays PLC grew its position in Alamo Group by 204.7% in the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock worth $4,039,000 after buying an additional 15,061 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alamo Group by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company's stock valued at $13,790,000 after buying an additional 9,710 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Alamo Group by 2.6% during the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company's stock valued at $70,562,000 after acquiring an additional 10,013 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

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.