Zacks: Alamo Group, Inc. (ALG) Receives Average Recommendation of “Strong Buy” from Brokerages

Alamo Group, Inc. (NYSE:ALG) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Zacks has also assigned Alamo Group an industry rank of 195 out of 255 based on the ratings given to its competitors.

Separately, Sidoti raised Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Wednesday, October 24th.

In other news, Director Roderick R. Baty bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average cost of $76.32 per share, for a total transaction of $152,640.00. Following the purchase, the director now owns 18,104 shares of the company’s stock, valued at approximately $1,381,697.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.48% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of Alamo Group in the fourth quarter valued at approximately $43,000. First Interstate Bank acquired a new stake in shares of Alamo Group in the third quarter valued at approximately $130,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Alamo Group in the third quarter valued at approximately $210,000. Metropolitan Life Insurance Co. NY raised its position in shares of Alamo Group by 348.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,963 shares of the industrial products company’s stock valued at $229,000 after buying an additional 2,303 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Alamo Group in the fourth quarter valued at approximately $232,000. Institutional investors and hedge funds own 94.87% of the company’s stock.

Shares of ALG stock traded up $1.46 during trading hours on Tuesday, hitting $88.98. The company had a trading volume of 58,269 shares, compared to its average volume of 52,252. The firm has a market cap of $1.04 billion, a P/E ratio of 15.67 and a beta of 0.83. The company has a current ratio of 4.27, a quick ratio of 2.60 and a debt-to-equity ratio of 0.20. Alamo Group has a 12 month low of $72.50 and a 12 month high of $119.16.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 29th. Investors of record on Thursday, January 17th were given a $0.12 dividend. The ex-dividend date was Wednesday, January 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Alamo Group’s previous quarterly dividend of $0.11.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.

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