Alamo Group (NYSE:ALG – Get Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Separately, TheStreet lowered Alamo Group from a “b-” rating to a “c+” rating in a research report on Thursday, May 19th.
Alamo Group Stock Performance
ALG stock traded up $2.39 during trading on Friday, reaching $134.58. 45,275 shares of the company’s stock were exchanged, compared to its average volume of 39,881. The company has a quick ratio of 1.98, a current ratio of 3.77 and a debt-to-equity ratio of 0.49. Alamo Group has a 1-year low of $108.35 and a 1-year high of $160.71. The company’s fifty day moving average price is $118.75 and its 200-day moving average price is $129.59. The firm has a market cap of $1.61 billion, a PE ratio of 19.14 and a beta of 0.99.
Alamo Group (NYSE:ALG – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.33. Alamo Group had a return on equity of 12.15% and a net margin of 5.84%. During the same quarter last year, the firm posted $1.97 earnings per share. On average, research analysts expect that Alamo Group will post 8.13 EPS for the current fiscal year.
Insider Transactions at Alamo Group
In other news, Director Robert P. Bauer acquired 500 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were bought at an average price of $113.99 per share, with a total value of $56,995.00. Following the purchase, the director now owns 7,561 shares of the company’s stock, valued at $861,878.39. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.
Institutional Investors Weigh In On Alamo Group
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System raised its position in shares of Alamo Group by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 4,003 shares of the industrial products company’s stock worth $576,000 after purchasing an additional 76 shares during the period. Truist Financial Corp raised its position in shares of Alamo Group by 3.7% during the second quarter. Truist Financial Corp now owns 2,394 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 85 shares during the period. IndexIQ Advisors LLC raised its position in shares of Alamo Group by 3.6% during the first quarter. IndexIQ Advisors LLC now owns 2,802 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 98 shares during the period. Teacher Retirement System of Texas raised its position in Alamo Group by 6.6% during the first quarter. Teacher Retirement System of Texas now owns 2,109 shares of the industrial products company’s stock valued at $303,000 after buying an additional 130 shares during the period. Finally, First Republic Investment Management Inc. raised its position in Alamo Group by 5.9% during the first quarter. First Republic Investment Management Inc. now owns 2,490 shares of the industrial products company’s stock valued at $358,000 after buying an additional 138 shares during the period. 91.33% of the stock is owned by institutional investors and hedge funds.
News Source: Market Beat
