Fayez Sarofim & Co lowered its holdings in Alamo Group Inc. (NYSE:ALG - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,500 shares of the industrial products company's stock after selling 15,000 shares during the quarter. Fayez Sarofim & Co owned about 1.09% of Alamo Group worth $24,447,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ALG. Smartleaf Asset Management LLC grew its holdings 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 valued at $38,000 after buying an additional 168 shares during the last quarter. KBC Group NV boosted its stake in Alamo Group by 57.1% during the 4th 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 last quarter. Summit Investment Advisors Inc. raised its stake in shares of Alamo Group by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock worth $199,000 after purchasing an additional 69 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Alamo Group in the fourth quarter valued at approximately $200,000. Finally, Choreo LLC purchased a new position in shares of Alamo Group during the fourth quarter valued at approximately $201,000. Institutional investors own 92.36% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Robert W. Baird lowered shares of Alamo Group from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research note on Monday, March 3rd. DA Davidson decreased their price target on Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, StockNews.com cut Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th.
Read Our Latest Stock Analysis on ALG
Alamo Group Stock Performance
Shares of ALG traded down $2.41 during mid-day trading on Friday, hitting $168.15. The stock had a trading volume of 51,109 shares, compared to its average volume of 92,781. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The firm has a market cap of $2.03 billion, a P/E ratio of 16.93 and a beta of 1.00. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62. The business has a fifty day moving average price of $177.73 and a 200-day moving average price of $183.35.
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, topping analysts' consensus estimates of $2.23 by $0.16. The firm had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, equities research analysts expect that Alamo Group Inc. will post 9.53 EPS for the current year.
Alamo Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, April 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.71%. Alamo Group's payout ratio is 12.46%.
Alamo Group Profile
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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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