Alamo Group (NYSE:ALG) Sees Strong Trading Volume – Time to Buy?

Alamo Group Inc. (NYSE:ALG) saw unusually-strong trading volume on Wednesday . Approximately 48,147 shares were traded during trading, a decline of 35% from the previous session’s volume of 73,808 shares.The stock last traded at $171.75 and had previously closed at $172.23.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALG shares. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird dropped their price target on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, DA Davidson boosted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Stock Performance

The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $177.40 and a 200 day moving average price of $187.15. The firm has a market capitalization of $2.07 billion, a PE ratio of 15.27 and a beta of 1.06.

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

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is currently 9.25%.

Insider Buying and Selling

In other news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction 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 directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently modified their holdings of ALG. Vanguard Group Inc. increased its holdings in Alamo Group by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after buying an additional 7,121 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of Alamo Group by 62.4% in the 4th quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock valued at $4,002,000 after acquiring an additional 7,311 shares during the last quarter. Contravisory Investment Management Inc. raised its position in shares of Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 47 shares in the last quarter. Guidance Capital Inc. lifted its stake in Alamo Group by 29.8% during the first quarter. Guidance Capital Inc. now owns 2,087 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 479 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in Alamo Group by 5.2% during the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 72 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.