Blueshift Asset Management LLC Acquires New Shares in Alamo Group Inc. (NYSE:ALG)

Blueshift Asset Management LLC purchased a new position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,317 shares of the industrial products company's stock, valued at approximately $431,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Investment Partners LLC lifted its position in Alamo Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company's stock valued at $484,000 after acquiring an additional 56 shares in the last quarter. Aurora Investment Counsel lifted its holdings in shares of Alamo Group by 1.5% in the third quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company's stock valued at $1,034,000 after purchasing an additional 85 shares in the last quarter. FORA Capital LLC boosted its position in shares of Alamo Group by 6.7% during the third quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company's stock valued at $252,000 after buying an additional 88 shares during the last quarter. Swiss National Bank grew its holdings in Alamo Group by 0.5% during the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company's stock worth $3,737,000 after buying an additional 100 shares in the last quarter. Finally, Tidal Investments LLC raised its position in Alamo Group by 3.8% in the 3rd quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company's stock valued at $557,000 after buying an additional 113 shares during the last quarter. Institutional investors own 92.36% of the company's stock.

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Alamo Group Stock Performance

NYSE ALG traded down $1.36 during trading hours on Tuesday, reaching $186.69. 116,764 shares of the company were exchanged, compared to its average volume of 84,847. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year high of $228.88. The business's 50 day simple moving average is $184.55 and its 200-day simple moving average is $184.55. The stock has a market capitalization of $2.26 billion, a P/E ratio of 18.80 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.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.16. The business had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. On average, equities research analysts expect 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. Investors of record on Thursday, January 16th were paid a $0.30 dividend. This is a boost from Alamo Group's previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, January 16th. Alamo Group's payout ratio is currently 12.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALG shares. Baird R W downgraded shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Robert W. Baird downgraded shares of Alamo Group from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $224.00 to $177.00 in a research report on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on shares of 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 for the company in a report on Monday, March 3rd. Finally, StockNews.com downgraded Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th.

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.