Alamo Group Inc. (NYSE:ALG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Alamo Group Inc. (NYSE:ALG) by 1.7% during the fourth quarter, HoldingsChannel reports. The fund owned 82,738 shares of the industrial products company’s stock after selling 1,473 shares during the quarter. Bank of New York Mellon Corp’s holdings in Alamo Group were worth $15,382,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 189 shares during the last quarter. Huntington National Bank boosted its stake in Alamo Group by 10.4% during the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 63 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Alamo Group by 192.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 534 shares during the last quarter. Choreo LLC bought a new position in Alamo Group during the 4th quarter valued at $201,000. Finally, ZWJ Investment Counsel Inc. bought a new position in Alamo Group during the 4th quarter valued at $203,000. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research note on Monday, March 3rd. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Baird R W downgraded shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird downgraded shares of Alamo Group from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $224.00 to $177.00 in a research report on Friday, February 28th. Finally, DA Davidson reduced their price target on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd.

Alamo Group Trading Down 0.3 %

Alamo Group stock opened at $185.92 on Wednesday. The firm’s 50-day moving average is $183.03 and its 200-day moving average is $184.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year high of $228.88. The company has a market cap of $2.24 billion, a P/E ratio of 18.72 and a beta of 1.10.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The company had revenue of $385.32 million for the quarter, compared to the consensus estimate of $396.85 million. On average, equities analysts expect that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio (DPR) is 12.46%.

Insider Buying and Selling

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% 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.