Wells Fargo & Company MN increased its position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 16.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,885 shares of the industrial products company's stock after buying an additional 2,275 shares during the period. Wells Fargo & Company MN owned about 0.13% of Alamo Group worth $2,953,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in shares of 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 during the last quarter. KBC Group NV increased its stake in shares of Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 189 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Alamo Group in the fourth quarter valued at approximately $200,000. Choreo LLC acquired a new position in shares of Alamo Group during the fourth quarter valued at approximately $201,000. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Alamo Group during the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 92.36% of the company's stock.
Alamo Group Stock Performance
ALG traded down $0.26 on Tuesday, hitting $168.41. 141,407 shares of the stock traded hands, compared to its average volume of 93,059. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62. 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 capitalization of $2.04 billion, a PE ratio of 16.96 and a beta of 1.00. The business has a fifty day moving average price of $176.92 and a two-hundred day moving average price of $183.34.
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. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The firm had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 million. On average, research analysts predict that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.
Alamo Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.71%. Alamo Group's dividend payout ratio is currently 12.46%.
Analyst Ratings Changes
A number of brokerages recently weighed in on ALG. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a report on Monday, March 3rd. DA Davidson lowered their price target on Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Baird R W downgraded Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. StockNews.com cut Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Robert W. Baird cut 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.
Check Out Our Latest Report on Alamo Group
Alamo Group 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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