Alamo Group Inc. (NYSE:ALG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in shares of Alamo Group Inc. (NYSE:ALG) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,048 shares of the industrial products company’s stock after selling 61 shares during the period. Bank of Montreal Can’s holdings in Alamo Group were worth $381,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Investment Partners LLC raised its position in shares of Alamo Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 56 shares during the last quarter. Swiss National Bank raised its holdings in shares of Alamo Group by 0.5% during the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock valued at $3,737,000 after acquiring an additional 100 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Alamo Group by 3.8% in the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 113 shares in the last quarter. US Bancorp DE boosted its stake in shares of Alamo Group by 0.9% in the fourth quarter. US Bancorp DE now owns 16,761 shares of the industrial products company’s stock worth $3,116,000 after acquiring an additional 142 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake 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 worth $38,000 after acquiring an additional 168 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALG. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Baird R W downgraded shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. 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. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research note on Monday, March 3rd. Finally, DA Davidson dropped 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.

Alamo Group Trading Up 2.8 %

Shares of ALG stock opened at $165.53 on Wednesday. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a twelve month low of $157.07 and a twelve month high of $208.66. The company’s 50-day moving average price is $178.72 and its 200-day moving average price is $183.52. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 16.67 and a beta of 1.00.

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

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders 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 annualized dividend and a yield of 0.72%. Alamo Group’s dividend payout ratio (DPR) is 12.46%.

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.