ValuEngine cut shares of Alamo Group (NYSE:ALG) from a hold rating to a sell rating in a research note released on Wednesday.

Separately, Zacks Investment Research upgraded Alamo Group from a hold rating to a buy rating and set a $106.00 target price on the stock in a research note on Tuesday, August 7th.

NYSE:ALG opened at $92.00 on Wednesday. Alamo Group has a fifty-two week low of $88.12 and a fifty-two week high of $120.58. The firm has a market cap of $1.10 billion, a P/E ratio of 19.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.92 and a current ratio of 4.66.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.16. Alamo Group had a return on equity of 13.31% and a net margin of 5.43%. The company had revenue of $257.13 million for the quarter, compared to analyst estimates of $237.40 million. sell-side analysts forecast that Alamo Group will post 5.93 EPS for the current year.

In other news, VP Dan Edward Malone sold 1,964 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $96.13, for a total transaction of $188,799.32. Following the transaction, the vice president now owns 11,225 shares of the company’s stock, valued at approximately $1,079,059.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard J. Wehrle sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $95.05, for a total value of $570,300.00. Following the sale, the vice president now directly owns 16,404 shares in the company, valued at approximately $1,559,200.20. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its position in Alamo Group by 3.4% during the first quarter. Legal & General Group Plc now owns 17,876 shares of the industrial products company’s stock valued at $1,968,000 after purchasing an additional 593 shares in the last quarter. Rhumbline Advisers boosted its holdings in Alamo Group by 3.2% in the second quarter. Rhumbline Advisers now owns 23,344 shares of the industrial products company’s stock worth $2,109,000 after acquiring an additional 718 shares in the last quarter. UBS Group AG boosted its holdings in Alamo Group by 83.8% in the first quarter. UBS Group AG now owns 1,601 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 730 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Alamo Group by 4.0% in the first quarter. Wells Fargo & Company MN now owns 19,168 shares of the industrial products company’s stock worth $2,107,000 after acquiring an additional 745 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Alamo Group by 0.4% in the second quarter. Northern Trust Corp now owns 196,580 shares of the industrial products company’s stock worth $17,763,000 after acquiring an additional 749 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

Alamo Group Company Profile

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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