Shares last traded at $92.89 marginally over $87.60, the stock’s 50 day moving average and just a bit higher than the 200 day moving average of $79.28. The 50 day moving average went up by +6.04% whereas the 200 day moving average was up $13.61 or +17.17%. (NYSE:ALG) shares saw heavy trading volume with 56K shares changing hands on Thursday. Overall, volume was up 10.49% over the stocks normal daily volume.
Alamo Group, Inc. (NYSE:ALG) has been the object of insider selling activity recently. Edward Rizzuti, VP reported the sale of 184 shares of ALG stock. The shares were purchased at an average price of $90.92. Rizzuti now owns $204,570 of the stock according to the SEC filing. Richard Hodges Raborn, EVP Agricultural Division disclosed the sale of 364 shares. The shares were sold on May 25th for an average price of $83.72. The EVP Agricultural Division now owns $407,214 of the stock per the Form 4 SEC filing.
EVP Dan Edward Malone disclosed the sale of 900 shares of (ALG). The shares were purchased at an average price of $82.02. Malone now owns $881,715 of the stock per the Form 4 SEC filing.
These funds have also shifted positions in (ALG). As of quarter end Morgan Stanley had bought 24 shares growing its stake by 24.0%. The value of the investment in ALG increased from $8,000 to $9,000 increasing 12.5% quarter over quarter. Tower Research Capital LLC (trc) grew its holdings by buying 140 shares an increase of 350.0% from 12/31/2016 to 03/31/2017. Tower Research Capital LLC (trc) now controls 180 shares worth $14,000. The total value of its holdings increased 366.7%.
Goldman Sachs Group Inc expanded its ownership by buying 5 shares an increase of 0.1% in the quarter. Goldman Sachs Group Inc controls 6,818 shares valued at $519,000. The total value of its holdings increased 0.2%. Price T Rowe Associates Inc /md/ bolstered its stake by buying 12,544 shares an increase of 2.4% in the quarter. Price T Rowe Associates Inc /md/ currently owns 531,051 shares with a value of $40,461,000. The value of the position overall is up by 2.5%.
On November 6, 2015 the stock rating was changed to a “Neutral” according to a Seaport Global report a cut from the previous “Buy” rating. On November 24, 2014 Bank of America initiated coverage on the stock giving it an initial rating of “Buy” and setting a price target of $55.00.
Piper Jaffray started coverage setting a rating of “Overweight” and price target of $58.00. Global Hunter both upgraded the stock and raised the price target on November 18 changing the price objective from $50.00 to $55.00 and changing the rating from “Neutral” to “Buy”.
On November 18 the stock rating was upgraded to “Buy” from “Neutral” with a current price target of $55.00 in a statement from Global Hunter. Equity analyst Global Hunter started covering ALG by announcing an initial rating of “Neutral” and projecting a price target of $51.00.
The company is up from yesterday’s close of $92.58. Additionally the company declared a dividend to be paid on Friday the 28th of July 2017. The dividend payment will be $0.100 per share for the quarter which comes to $0.40 on an annualized basis. The dividend yield will be $0.43. The ex-dividend date will be Wednesday the 12th of April 2017.
Alamo Group, Inc.’s P/E ratio is 24.70 and market cap is 1.07B. As of the latest earnings report the EPS was $3.76 and is projected to be $4.13 for the current year with 11,550,000 shares now outstanding. Next quarter’s EPS is estimated at $1.21 and the next full year EPS is projected to be $4.47.
Alamo Group Inc., launched on October 22, 1987, is involved 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. The Business’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket. As of December 31, 2016, the Company operated 24 plants in North America, Europe, Australia and Brazil. The Company sells its products through a network of independent dealers and distributors to Governmental end users, related independent contractors, as well as to the agricultural and commercial turf markets. It also offers replacement parts for each of its wholegoods lines. The Business’s products are sold through various marketing organizations, and dealer and distributor networks under the Alamo Industrial, Terrain King, Tiger, Gradall, VacAll, Schwarze, Nite-Hawk, Henke, Tenco, Super Products, Wausau-Everest, H.P. Fairfield, Bush Hog, Rhino, Earthmaster, Herschel, Valu-Bilt, Schulte, Superior, Fieldquip, McConnel, Bomford, Spearhead, Herder, Twose, Kellands, SMA, Forges Gorce, Faucheux, Rousseau and Rivard trademarks, as well as other trademarks and trade names..Advertisement