Vanguard Group Inc. Grows Stake in Alamo Group Inc. (NYSE:ALG)

Vanguard Group Inc. increased its position in shares of Alamo Group Inc. (NYSE:ALG) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 721,154 shares of the industrial products company’s stock after purchasing an additional 2,361 shares during the quarter. Vanguard Group Inc. owned 5.98% of Alamo Group worth $134,070,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Alamo Group during the 4th quarter worth $372,000. Sei Investments Co. raised its position in Alamo Group by 20.7% during the fourth quarter. Sei Investments Co. now owns 20,539 shares of the industrial products company’s stock worth $3,819,000 after acquiring an additional 3,517 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Alamo Group by 54.6% in the fourth quarter. American Century Companies Inc. now owns 13,918 shares of the industrial products company’s stock valued at $2,587,000 after purchasing an additional 4,918 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Alamo Group in the fourth quarter valued at approximately $431,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Alamo Group by 32.1% during the 4th quarter. Teacher Retirement System of Texas now owns 37,408 shares of the industrial products company’s stock worth $6,955,000 after purchasing an additional 9,087 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Price Performance

ALG stock opened at $161.67 on Tuesday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 16.28 and a beta of 1.00. The stock’s fifty day simple moving average is $183.45 and its 200-day simple moving average is $184.64. Alamo Group Inc. has a 52-week low of $159.71 and a 52-week high of $222.88. 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) last issued its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Equities research analysts expect that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Wednesday, April 16th. Alamo Group’s payout ratio is currently 12.46%.

Analysts Set New Price Targets

A number of brokerages have commented on ALG. Robert W. Baird cut Alamo Group from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $224.00 to $177.00 in a report on Friday, February 28th. DA Davidson decreased their price objective on Alamo Group from $219.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a 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.