Natixis Advisors LLC lowered its stake in Alamo Group Inc. (NYSE:ALG - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,032 shares of the industrial products company's stock after selling 18,768 shares during the quarter. Natixis Advisors LLC owned approximately 0.44% of Alamo Group worth $9,859,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Investment Partners LLC lifted its stake 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 acquiring an additional 56 shares during the last quarter. Aurora Investment Counsel lifted its stake in Alamo Group by 1.5% in the 3rd 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 during the last quarter. FORA Capital LLC grew its holdings in Alamo Group by 6.7% during the third quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company's stock worth $252,000 after purchasing an additional 88 shares during the period. Swiss National Bank increased its position 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 during the last quarter. Finally, Tidal Investments LLC raised its stake in Alamo Group by 3.8% in the third 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 period. Institutional investors own 92.36% of the company's stock.
Analysts Set New Price Targets
ALG has been the subject of several research analyst reports. 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 research note on Monday, March 3rd. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a report on Monday, March 3rd. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Baird R W downgraded shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, StockNews.com cut shares of Alamo Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th.
Get Our Latest Analysis on Alamo Group
Alamo Group Stock Performance
ALG stock traded up $5.04 during trading hours on Monday, hitting $188.60. 152,560 shares of the stock were exchanged, compared to its average volume of 84,940. The company has a 50-day simple moving average of $184.30 and a two-hundred day simple moving average of $184.44. The firm has a market capitalization of $2.28 billion, a P/E ratio of 18.99 and a beta of 1.10. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $228.88. 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 (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, topping 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 business had revenue of $385.32 million during the quarter, compared to analysts' expectations of $396.85 million. On average, analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.
Alamo Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were given a dividend of $0.30 per share. 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 0.64%. This is an increase from Alamo Group's previous quarterly dividend of $0.26. Alamo Group's dividend payout ratio is currently 12.46%.
Alamo Group Company 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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