JPMorgan Chase & Co. Has $10.79 Million Holdings in Alamo Group Inc. (NYSE:ALG)

JPMorgan Chase & Co. decreased its stake in Alamo Group Inc. (NYSE:ALG) by 24.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,059 shares of the industrial products company’s stock after selling 18,496 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.48% of Alamo Group worth $10,794,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Alamo Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock worth $134,070,000 after acquiring an additional 2,361 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Alamo Group by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock valued at $121,205,000 after buying an additional 30,826 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Alamo Group by 8.0% during the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after buying an additional 33,294 shares during the last quarter. State Street Corp boosted its holdings in shares of Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after buying an additional 10,013 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Alamo Group by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after purchasing an additional 670 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alamo Group Stock Down 0.8 %

Alamo Group stock opened at $169.70 on Tuesday. 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’s fifty day moving average price is $180.96 and its two-hundred day moving average price is $183.97. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 17.09 and a beta of 1.00. Alamo Group Inc. has a 1-year low of $157.07 and a 1-year high of $220.61.

Alamo Group (NYSE:ALG) last posted its earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The firm had revenue of $385.32 million for the quarter, compared to analysts’ expectations of $396.85 million. On average, equities research analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Wednesday, April 16th. Alamo Group’s dividend payout ratio is currently 12.46%.

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.