Dark Forest Capital Management LP Invests $809,000 in Alamo Group Inc. (NYSE:ALG)

Dark Forest Capital Management LP purchased a new position in Alamo Group Inc. (NYSE:ALG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,351 shares of the industrial products company's stock, valued at approximately $809,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALG. Smartleaf Asset Management LLC raised its stake in Alamo Group by 442.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock worth $38,000 after acquiring an additional 168 shares during the last quarter. Barclays PLC raised its stake in shares of Alamo Group by 204.7% in the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock worth $4,039,000 after purchasing an additional 15,061 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alamo Group by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock worth $26,222,000 after purchasing an additional 6,666 shares during the period. JPMorgan Chase & Co. boosted its position in Alamo Group by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company's stock valued at $13,790,000 after buying an additional 9,710 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Alamo Group by 63.9% in the 4th quarter. Intech Investment Management LLC now owns 4,405 shares of the industrial products company's stock worth $819,000 after buying an additional 1,718 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Price Performance

Shares of Alamo Group stock traded down $2.47 on Wednesday, hitting $166.14. The company's stock had a trading volume of 18,335 shares, compared to its average volume of 92,776. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 16.73 and a beta of 1.00. The firm has a fifty day moving average price of $176.92 and a 200-day moving average price of $183.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. Alamo Group Inc. has a 1 year low of $157.07 and a 1 year high of $205.62.

Alamo Group (NYSE:ALG - Get Free Report) last announced its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, topping 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 business had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. As a group, sell-side analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.