AlphaQuest LLC Trims Stock Position in Alamo Group Inc. (NYSE:ALG)

AlphaQuest LLC cut its position in shares of Alamo Group Inc. (NYSE:ALG) by 90.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 524 shares of the industrial products company’s stock after selling 4,795 shares during the period. AlphaQuest LLC’s holdings in Alamo Group were worth $97,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 168 shares during the last quarter. KBC Group NV grew its holdings in shares of Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 189 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Alamo Group by 192.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 534 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Alamo Group in the fourth quarter valued at approximately $200,000. Finally, Choreo LLC acquired a new position in shares of Alamo Group in the fourth quarter valued at approximately $201,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALG. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $224.00 to $177.00 in a report on Friday, February 28th. DA Davidson dropped their price objective on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a report on Monday, March 3rd.

Alamo Group Stock Up 0.7 %

Shares of Alamo Group stock opened at $189.40 on Wednesday. Alamo Group Inc. has a 52-week low of $163.74 and a 52-week high of $228.88. The company has a 50 day moving average of $183.58 and a 200 day moving average of $184.30. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.28 billion, a P/E ratio of 19.07 and a beta of 1.10.

Alamo Group (NYSE:ALG) last issued 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 during the quarter, compared to the consensus estimate of $396.85 million. As a group, research analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is currently 12.46%.

Alamo Group Profile

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.