Zacks Investment Research lowered shares of Alamo Group, Inc. (NYSE:ALG) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “

Shares of Alamo Group (NYSE:ALG) opened at 77.01 on Wednesday. The company’s 50 day moving average is $76.18 and its 200-day moving average is $71.62. Alamo Group has a 12 month low of $52.82 and a 12 month high of $79.59. The company has a market cap of $886.69 million, a P/E ratio of 22.26 and a beta of 0.92.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Tuesday, March 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.08. Alamo Group had a return on equity of 11.57% and a net margin of 5.08%. Analysts expect that Alamo Group will post $3.88 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its stake in Alamo Group by 7.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,080 shares of the company’s stock valued at $137,000 after buying an additional 140 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Alamo Group during the fourth quarter valued at about $156,000. Acadian Asset Management LLC increased its stake in Alamo Group by 134.3% in the third quarter. Acadian Asset Management LLC now owns 3,828 shares of the company’s stock valued at $252,000 after buying an additional 2,194 shares in the last quarter. Investment Partners Ltd. OH ADV purchased a new stake in Alamo Group during the third quarter valued at about $344,000. Finally, Thrivent Financial for Lutherans increased its stake in Alamo Group by 5.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,090 shares of the company’s stock valued at $387,000 after buying an additional 250 shares in the last quarter. 91.70% of the stock is owned by institutional investors and hedge funds.

About Alamo Group

Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.

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