Insider Buying: Alamo Group (NYSE:ALG) CEO Buys $75,624.00 in Stock

Alamo Group, Inc. (NYSE:ALG) CEO Robert Paul Hureau acquired 460 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average cost of $164.40 per share, with a total value of $75,624.00. Following the completion of the acquisition, the chief executive officer owned 12,506 shares in the company, valued at $2,055,986.40. This trade represents a 3.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alamo Group Trading Up 0.4%

Shares of ALG stock opened at $170.82 on Friday. The company’s fifty day simple moving average is $194.88 and its two-hundred day simple moving average is $186.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.57 and a quick ratio of 2.82. Alamo Group, Inc. has a 1 year low of $156.29 and a 1 year high of $233.29. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.06 and a beta of 1.11.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36). The company had revenue of $373.65 million during the quarter, compared to the consensus estimate of $405.18 million. Alamo Group had a return on equity of 10.04% and a net margin of 6.47%. As a group, analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were issued a dividend of $0.34 per share. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s payout ratio is currently 15.83%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALG shares. DA Davidson reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alamo Group in a report on Monday. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $225.00.

Hedge Funds Weigh In On Alamo Group

A number of large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its stake in Alamo Group by 136.2% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after buying an additional 314 shares during the last quarter. MAI Capital Management purchased a new position in shares of Alamo Group in the third quarter worth about $73,000. Kestra Advisory Services LLC purchased a new position in shares of Alamo Group in the fourth quarter worth about $76,000. Finally, State of Wyoming lifted its stake in shares of Alamo Group by 76.5% in the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.