Teacher Retirement System of Texas increased its holdings in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,408 shares of the industrial products company's stock after purchasing an additional 9,087 shares during the period. Teacher Retirement System of Texas owned 0.31% of Alamo Group worth $6,955,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in Alamo Group by 442.1% during the 4th 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 in the last quarter. KBC Group NV lifted its position in shares of Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company's stock worth $97,000 after purchasing an additional 189 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake 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 during the period. Raymond James Financial Inc. acquired a new stake in Alamo Group during the 4th quarter valued at $200,000. Finally, Choreo LLC purchased a new stake in Alamo Group during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 92.36% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research report on Monday, March 3rd. DA Davidson reduced their target price on Alamo Group from $219.00 to $217.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. StockNews.com downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $224.00 to $177.00 in a report on Friday, February 28th.
Get Our Latest Report on Alamo Group
Alamo Group Stock Performance
NYSE ALG traded down $1.29 on Thursday, hitting $185.98. The stock had a trading volume of 75,259 shares, compared to its average volume of 84,861. 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's 50-day moving average is $184.86 and its two-hundred day moving average is $184.68. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 18.73 and a beta of 1.10. Alamo Group Inc. has a one year low of $163.74 and a one year high of $228.88.
Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The company had revenue of $385.32 million during the quarter, compared to analysts' expectations of $396.85 million. On average, analysts expect that Alamo Group Inc. will post 9.53 earnings per share for the current 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 issued a $0.30 dividend. The ex-dividend date was Thursday, January 16th. This is a boost from Alamo Group's previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. Alamo Group's dividend payout ratio (DPR) is 12.46%.
About Alamo Group
(
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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