JPMorgan Chase & Co. Has $10.79 Million Position in Alamo Group Inc. (NYSE:ALG)

JPMorgan Chase & Co. reduced its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,059 shares of the industrial products company's stock after selling 18,496 shares during the quarter. JPMorgan Chase & Co. owned 0.48% of Alamo Group worth $10,794,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cornerstone Investment Partners LLC increased its holdings in Alamo Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company's stock valued at $484,000 after buying an additional 56 shares during the last quarter. Swiss National Bank boosted its stake in Alamo Group by 0.5% during the 4th quarter. Swiss National Bank now owns 20,100 shares of the industrial products company's stock valued at $3,737,000 after purchasing an additional 100 shares during the period. Tidal Investments LLC increased 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 acquiring an additional 113 shares during the period. US Bancorp DE grew its position in Alamo Group by 0.9% in the 4th quarter. US Bancorp DE now owns 16,761 shares of the industrial products company's stock valued at $3,116,000 after buying an additional 142 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock worth $38,000 after purchasing an additional 168 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Trading Up 0.3 %

Shares of ALG traded up $0.53 during midday trading on Friday, hitting $167.40. The stock had a trading volume of 80,722 shares, compared to its average volume of 92,358. Alamo Group Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $208.66. The business has a 50-day simple moving average of $179.57 and a two-hundred day simple moving average of $183.61. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.02 billion, a P/E ratio of 16.86 and a beta of 1.00.

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, beating 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 company had revenue of $385.32 million for the quarter, compared to the consensus estimate of $396.85 million. As a group, equities analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, April 16th. Alamo Group's dividend payout ratio is currently 12.46%.

Wall Street Analyst Weigh In

ALG has been the topic of several research analyst reports. Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. DA Davidson dropped their price target on shares of Alamo Group from $219.00 to $217.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. StockNews.com cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $224.00 to $177.00 in a report on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 price target on Alamo Group in a report on Monday, March 3rd.

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.