Wells Fargo & Company MN lifted its position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,885 shares of the industrial products company's stock after buying an additional 2,275 shares during the period. Wells Fargo & Company MN owned about 0.13% of Alamo Group worth $2,953,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Alamo Group during the 4th quarter worth approximately $6,786,000. Victory Capital Management Inc. boosted its stake in shares of Alamo Group by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock valued at $83,421,000 after purchasing an additional 33,294 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Alamo Group by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company's stock worth $121,205,000 after purchasing an additional 30,826 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Alamo Group by 16.0% in the fourth quarter. Tributary Capital Management LLC now owns 116,584 shares of the industrial products company's stock worth $21,674,000 after buying an additional 16,093 shares during the period. Finally, Barclays PLC raised its holdings in Alamo Group by 204.7% during the 3rd quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock valued at $4,039,000 after buying an additional 15,061 shares during the last quarter. Institutional investors own 92.36% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ALG. DA Davidson cut their price target on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Robert W. Baird downgraded Alamo Group from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $224.00 to $177.00 in a report on Friday, February 28th. StockNews.com cut Alamo Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 price target on Alamo Group in a research note on Monday, March 3rd.
Read Our Latest Report on ALG
Alamo Group Stock Down 1.4 %
Shares of Alamo Group stock traded down $2.41 on Friday, reaching $168.15. The company's stock had a trading volume of 51,109 shares, compared to its average volume of 92,948. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62. The firm's fifty day simple moving average is $177.73 and its two-hundred day simple moving average is $183.42. 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 $2.03 billion, a price-to-earnings ratio of 16.93 and a beta of 1.00.
Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The firm had revenue of $385.32 million for the quarter, compared to analysts' expectations of $396.85 million. Equities analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current year.
Alamo Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Wednesday, April 16th. Alamo Group's payout ratio is presently 12.46%.
Alamo Group Company Profile
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Free Report)
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.
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