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

AlphaQuest LLC lessened its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 90.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 524 shares of the industrial products company's stock after selling 4,795 shares during the quarter. AlphaQuest LLC's holdings in Alamo Group were worth $97,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in 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 acquiring an additional 30,826 shares during the period. Victory Capital Management Inc. lifted its stake in Alamo Group by 8.0% in the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock worth $83,421,000 after acquiring an additional 33,294 shares during the period. State Street Corp lifted its stake in Alamo Group by 2.6% in the third quarter. State Street Corp now owns 391,728 shares of the industrial products company's stock worth $70,562,000 after acquiring an additional 10,013 shares during the period. Geode Capital Management LLC raised its holdings in Alamo Group by 0.3% in the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company's stock worth $41,834,000 after purchasing an additional 670 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Alamo Group in the third quarter worth $35,759,000. Hedge funds and other institutional investors own 92.36% of the company's stock.

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Analyst Ratings Changes

ALG has been the subject of a number of research reports. DA Davidson decreased their price objective on Alamo Group from $219.00 to $217.00 and set a "buy" rating for the company in a report on Monday, March 3rd. StockNews.com downgraded Alamo Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Industrial Alliance Securities set a $217.00 price target on Alamo Group in a report on Monday, March 3rd. Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Robert W. Baird cut 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 research report on Friday, February 28th.

Alamo Group Stock Performance

NYSE:ALG traded up $1.19 on Thursday, hitting $189.45. The stock had a trading volume of 34,632 shares, compared to its average volume of 106,795. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 19.08 and a beta of 1.10. 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 business's 50-day simple moving average is $183.83 and its two-hundred day simple moving average is $184.33. Alamo Group Inc. has a 52-week low of $163.74 and a 52-week high of $228.88.

Alamo Group (NYSE:ALG - Get Free Report) last announced its 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 business had revenue of $385.32 million for the quarter, compared to analysts' expectations of $396.85 million. As a group, research analysts predict 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. Shareholders of record on Thursday, January 16th were paid a $0.30 dividend. This is an increase from Alamo Group's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. Alamo Group's payout ratio is presently 12.46%.

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.