DA Davidson upgraded shares of Alamo Group (NYSE:ALG – Get Rating) from a neutral rating to a buy rating in a research report released on Thursday, MarketBeat Ratings reports. They currently have $196.00 price target on the industrial products company's stock, up from their prior price target of $173.00.

Separately, StockNews.com initiated coverage on Alamo Group in a research note on Thursday. They set a buy rating for the company.

Alamo Group Trading Down 1.8 %

Shares of NYSE:ALG opened at $173.19 on Thursday. The stock has a 50 day moving average of $163.14 and a 200 day moving average of $148.29. The company has a market cap of $2.07 billion, a PE ratio of 20.28 and a beta of 0.98. The company has a current ratio of 3.82, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Alamo Group has a 12-month low of $108.35 and a 12-month high of $186.37.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 1st. Shareholders of record on Wednesday, January 18th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.51%. This is an increase from Alamo Group's previous quarterly dividend of $0.18. The ex-dividend date was Tuesday, January 17th. Alamo Group's dividend payout ratio is presently 10.30%.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 394 shares of the company's stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $184.21, for a total value of $72,578.74. Following the completion of the transaction, the executive vice president now directly owns 5,433 shares in the company, valued at approximately $1,000,812.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Edward Rizzuti sold 394 shares of the company's stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $184.21, for a total transaction of $72,578.74. Following the sale, the executive vice president now directly owns 5,433 shares of the company's stock, valued at approximately $1,000,812.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Janet S. Pollock sold 150 shares of the company's stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $180.40, for a total value of $27,060.00. Following the sale, the vice president now directly owns 2,606 shares in the company, valued at $470,122.40. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Alamo Group

Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC purchased a new stake in shares of Alamo Group during the 3rd quarter worth approximately $29,000. Lazard Asset Management LLC purchased a new stake in Alamo Group during the 3rd quarter valued at $32,000. Point72 Hong Kong Ltd purchased a new stake in Alamo Group during the 3rd quarter valued at $44,000. FMR LLC raised its holdings in Alamo Group by 17.4% during the 2nd quarter. FMR LLC now owns 701 shares of the industrial products company's stock valued at $81,000 after buying an additional 104 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Alamo Group by 30.1% during the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company's stock valued at $139,000 after buying an additional 223 shares during the period. 91.67% of the stock is owned by hedge funds and other institutional investors.

About Alamo Group

(Get Rating)

Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.

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