Commonwealth Equity Services LLC purchased a new stake in Alamo Group Inc. (NYSE:ALG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,522 shares of the industrial products company's stock, valued at approximately $1,398,000. Commonwealth Equity Services LLC owned about 0.06% of Alamo Group as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock worth $38,000 after buying an additional 168 shares during the last quarter. Barclays PLC lifted its holdings in Alamo Group by 204.7% in the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock valued at $4,039,000 after acquiring an additional 15,061 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Alamo Group by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock worth $26,222,000 after purchasing an additional 6,666 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alamo Group by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company's stock worth $13,790,000 after purchasing an additional 9,710 shares during the period. Finally, State Street Corp increased its holdings in shares of Alamo Group by 2.6% during the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company's stock valued at $70,562,000 after purchasing an additional 10,013 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ALG. Robert W. Baird downgraded shares of Alamo Group from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $224.00 to $177.00 in a report on Friday, February 28th. DA Davidson lowered their target price on shares of Alamo Group from $219.00 to $217.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Industrial Alliance Securities set a $217.00 price target on Alamo Group in a report on Monday, March 3rd. Baird R W downgraded Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, StockNews.com cut Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th.
Get Our Latest Stock Analysis on ALG
Alamo Group Price Performance
Shares of ALG traded down $10.67 during mid-day trading on Thursday, hitting $170.93. 80,878 shares of the company were exchanged, compared to its average volume of 89,693. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 17.21 and a beta of 1.10. Alamo Group Inc. has a 1-year low of $163.74 and a 1-year high of $224.02. The company has a 50 day moving average of $184.41 and a 200-day moving average of $184.83. 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 (NYSE:ALG - Get Free Report) last announced 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 business had revenue of $385.32 million during the quarter, compared to analysts' expectations of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. Analysts expect that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.
Alamo Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.70%. Alamo Group's payout ratio is currently 12.46%.
Alamo Group Profile
(
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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