Vanguard Group Inc. Increases Stock Position in Alamo Group Inc. (NYSE:ALG)

Vanguard Group Inc. increased its position in shares of Alamo Group Inc. (NYSE:ALG) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 721,154 shares of the industrial products company’s stock after buying an additional 2,361 shares during the period. Vanguard Group Inc. owned approximately 0.06% of Alamo Group worth $134,070,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in 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 worth $38,000 after acquiring an additional 168 shares during the last quarter. KBC Group NV increased its holdings in Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Alamo Group in the 4th quarter valued at approximately $200,000. Choreo LLC purchased a new position in shares of Alamo Group during the 4th quarter valued at approximately $201,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of Alamo Group during the fourth quarter worth approximately $203,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALG. DA Davidson cut their price target on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating on the stock 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 research report on Friday, February 28th. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Robert W. Baird cut Alamo Group from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $224.00 to $177.00 in a research note on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research report on Monday, March 3rd.

Alamo Group Trading Down 2.5 %

Alamo Group stock opened at $161.67 on Tuesday. 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 $159.71 and a 1 year high of $222.88. The firm’s 50-day moving average is $183.45 and its 200-day moving average is $184.64. The company has a market cap of $1.95 billion, a P/E ratio of 16.28 and a beta of 1.00.

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

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.74%. The ex-dividend date is Wednesday, April 16th. Alamo Group’s dividend payout ratio is presently 12.46%.

Alamo Group Company 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.