Alamo Group (NYSE:ALG) Sees Strong Trading Volume – Still a Buy?

Shares of Alamo Group Inc. (NYSE:ALG) saw strong trading volume on Wednesday . 48,147 shares changed hands during mid-day 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

ALG has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. DA Davidson lifted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Alamo Group Stock Down 1.0 %

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

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

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.61%. The ex-dividend date is Tuesday, October 15th. Alamo Group’s payout ratio is 9.25%.

Insider Buying and Selling at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. This 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 corporate insiders.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. lifted its holdings in Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Alamo Group by 174.7% in the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after buying an additional 159 shares during the last quarter. Quarry LP purchased a new position in shares of Alamo Group in the second quarter worth about $48,000. Bessemer Group Inc. boosted its position in Alamo Group by 1,885.7% during the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 264 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alamo Group during the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

About Alamo Group

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.