First Trust Advisors LP Has $2.66 Million Stake in Alamo Group Inc. (NYSE:ALG)

First Trust Advisors LP raised its position in Alamo Group Inc. (NYSE:ALG - Free Report) by 134.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,298 shares of the industrial products company's stock after acquiring an additional 8,193 shares during the period. First Trust Advisors LP owned about 0.12% of Alamo Group worth $2,658,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Alamo Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company's stock worth $134,070,000 after buying an additional 2,361 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Alamo Group by 4.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company's stock worth $121,205,000 after acquiring an additional 30,826 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Alamo Group by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock valued at $83,421,000 after acquiring an additional 33,294 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $26,222,000 after purchasing an additional 6,666 shares in the last quarter. Finally, Tributary Capital Management LLC grew its holdings in shares of Alamo Group by 16.0% in the 4th quarter. Tributary Capital Management LLC now owns 116,584 shares of the industrial products company's stock worth $21,674,000 after purchasing an additional 16,093 shares during the last quarter. Institutional investors own 92.36% of the company's stock.

Alamo Group Trading Up 6.6 %

ALG stock traded up $11.77 during midday trading on Friday, reaching $190.30. The company's stock had a trading volume of 121,014 shares, compared to its average volume of 93,140. The business's 50-day simple moving average is $175.41 and its 200-day simple moving average is $183.01. The stock has a market cap of $2.30 billion, a PE ratio of 19.16 and a beta of 1.02. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $396.85 million. As a group, sell-side analysts expect that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Wednesday, April 16th. Alamo Group's dividend payout ratio is 12.46%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Baird R W cut shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. DA Davidson reduced their price objective on Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. StockNews.com lowered Alamo Group from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Robert W. Baird downgraded shares of Alamo Group from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $224.00 to $177.00 in a research report on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research 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.