Alamo Group Inc. (NYSE:ALG) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in Alamo Group Inc. (NYSE:ALG) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,885 shares of the industrial products company’s stock after acquiring an additional 2,275 shares during the period. Wells Fargo & Company MN owned about 0.13% of Alamo Group worth $2,953,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Pitcairn Co. increased its stake in shares of Alamo Group by 22.8% during the fourth quarter. Pitcairn Co. now owns 2,284 shares of the industrial products company’s stock valued at $425,000 after acquiring an additional 424 shares during the period. Alliancebernstein L.P. boosted its position in Alamo Group by 7.5% during the 4th quarter. Alliancebernstein L.P. now owns 12,170 shares of the industrial products company’s stock worth $2,263,000 after acquiring an additional 854 shares during the period. Norges Bank purchased a new position in Alamo Group during the fourth quarter valued at approximately $6,786,000. EntryPoint Capital LLC increased its stake in shares of Alamo Group by 115.9% in the fourth quarter. EntryPoint Capital LLC now owns 2,520 shares of the industrial products company’s stock worth $468,000 after acquiring an additional 1,353 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Alamo Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock worth $134,070,000 after purchasing an additional 2,361 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Alamo Group Trading Up 1.6 %

Alamo Group stock opened at $168.41 on Thursday. Alamo Group Inc. has a 12 month low of $157.07 and a 12 month high of $205.92. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 16.96 and a beta of 1.00. The business has a 50 day moving average price of $178.39 and a two-hundred day moving average price of $183.42. 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 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. The firm had revenue of $385.32 million during the quarter, compared to analysts’ expectations of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. As a group, equities analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a report on Monday, March 3rd. DA Davidson cut their price target on Alamo Group from $217.00 to $195.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and cut their target price 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.