Canada Pension Plan Investment Board Makes New Investment in Alamo Group Inc. (NYSE:ALG)

Canada Pension Plan Investment Board purchased a new stake in Alamo Group Inc. (NYSE:ALG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,300 shares of the industrial products company's stock, valued at approximately $985,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALG. Smartleaf Asset Management LLC grew its position in shares of Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 168 shares during the period. KBC Group NV lifted its stake in Alamo Group by 57.1% in the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company's stock valued at $97,000 after buying an additional 189 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Alamo Group by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock worth $199,000 after buying an additional 69 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Alamo Group during the 4th quarter worth approximately $200,000. Finally, Choreo LLC acquired a new position in shares of Alamo Group during the fourth quarter valued at approximately $201,000. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Trading Down 1.2 %

Shares of ALG traded down $2.05 during midday trading on Wednesday, reaching $166.55. The company had a trading volume of 104,818 shares, compared to its average volume of 92,883. Alamo Group Inc. has a 1-year low of $157.07 and a 1-year 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. The firm has a 50 day simple moving average of $176.48 and a 200-day simple moving average of $183.23. The stock has a market cap of $2.01 billion, a PE ratio of 16.77 and a beta of 1.00.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's payout ratio is presently 12.46%.

Wall Street Analyst Weigh In

ALG has been the topic of a number of research analyst reports. Baird R W lowered Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. StockNews.com cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. DA Davidson reduced their target price on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a research report on Monday, March 3rd. Finally, Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $224.00 to $177.00 in a research note on Friday, February 28th.

Alamo Group Company 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.