KLP Kapitalforvaltning AS Invests $372,000 in Alamo Group Inc. (NYSE:ALG)

KLP Kapitalforvaltning AS purchased a new stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,000 shares of the industrial products company's stock, valued at approximately $372,000.

A number of other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. boosted its position in shares of Alamo Group by 20.7% during the 4th quarter. Sei Investments Co. now owns 20,539 shares of the industrial products company's stock valued at $3,819,000 after acquiring an additional 3,517 shares during the last quarter. American Century Companies Inc. lifted its position in Alamo Group by 54.6% during the fourth quarter. American Century Companies Inc. now owns 13,918 shares of the industrial products company's stock valued at $2,587,000 after purchasing an additional 4,918 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Alamo Group in the 4th quarter worth approximately $431,000. Teacher Retirement System of Texas grew its stake in Alamo Group by 32.1% in the 4th quarter. Teacher Retirement System of Texas now owns 37,408 shares of the industrial products company's stock worth $6,955,000 after buying an additional 9,087 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Alamo Group by 63.9% in the 4th quarter. Intech Investment Management LLC now owns 4,405 shares of the industrial products company's stock worth $819,000 after buying an additional 1,718 shares during the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Trading Down 1.9 %

Shares of NYSE:ALG traded down $3.36 on Thursday, reaching $169.24. 100,306 shares of the company traded hands, compared to its average volume of 91,528. The stock has a market capitalization of $2.05 billion, a P/E ratio of 17.04 and a beta of 1.00. The business's 50-day simple moving average is $181.42 and its 200 day simple moving average is $184.07. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $220.61.

Alamo Group (NYSE:ALG - Get Free Report) last issued its earnings results 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 company 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%. As a group, equities analysts anticipate that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, April 16th. Alamo Group's dividend payout ratio is 12.46%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALG. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research report on Monday, March 3rd. Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. DA Davidson decreased their price objective on Alamo Group from $219.00 to $217.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Robert W. Baird downgraded Alamo Group from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $224.00 to $177.00 in a research report on Friday, February 28th. Finally, StockNews.com cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th.

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.