36,500 Shares in Alamo Group Inc. (NYSE:ALG) Acquired by Norges Bank

Norges Bank bought a new position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,500 shares of the industrial products company's stock, valued at approximately $6,786,000. Norges Bank owned 0.30% of Alamo Group at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Alamo Group by 24.8% during the third quarter. BNP Paribas Financial Markets now owns 6,040 shares of the industrial products company's stock valued at $1,088,000 after acquiring an additional 1,202 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Alamo Group during the 3rd quarter valued at $342,000. State Street Corp lifted its stake in Alamo Group by 2.6% during the third 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 during the last quarter. Wellington Management Group LLP acquired a new stake in Alamo Group during the 3rd quarter worth about $35,759,000. Finally, First National Bank of Omaha grew its position in Alamo Group by 6.6% during the 3rd quarter. First National Bank of Omaha now owns 2,988 shares of the industrial products company's stock worth $538,000 after purchasing an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALG shares. DA Davidson cut their price objective 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 Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Baird R W downgraded Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research note on Monday, March 3rd. Finally, Robert W. Baird cut Alamo Group from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $224.00 to $177.00 in a research report on Friday, February 28th.

Alamo Group Stock Up 0.3 %

NYSE:ALG traded up $0.50 during trading hours on Monday, reaching $171.63. 3,595 shares of the stock were exchanged, compared to its average volume of 91,561. The stock has a market cap of $2.07 billion, a PE ratio of 17.31 and a beta of 1.00. The firm has a 50 day moving average of $181.20 and a 200 day moving average of $184.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group Inc. has a twelve month low of $157.07 and a twelve month high of $220.61.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly 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. 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%. On average, equities analysts expect that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.70%. Alamo Group's dividend payout ratio is 12.46%.

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.