PNC Financial Services Group Inc. Sells 123 Shares of Alamo Group Inc. (NYSE:ALG)

PNC Financial Services Group Inc. decreased its position in Alamo Group Inc. (NYSE:ALG) by 4.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,660 shares of the industrial products company’s stock after selling 123 shares during the period. PNC Financial Services Group Inc.’s holdings in Alamo Group were worth $559,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after acquiring an additional 7,121 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Alamo Group by 42.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock valued at $83,906,000 after acquiring an additional 119,636 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Alamo Group by 5.6% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 267,493 shares of the industrial products company’s stock valued at $56,225,000 after acquiring an additional 14,155 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in Alamo Group by 3.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 135,873 shares of the industrial products company’s stock valued at $23,487,000 after acquiring an additional 4,893 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Alamo Group by 14.8% in the 3rd quarter. Invesco Ltd. now owns 90,080 shares of the industrial products company’s stock valued at $15,571,000 after acquiring an additional 11,644 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Down 0.3 %

ALG stock opened at $170.78 on Thursday. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.06 billion, a PE ratio of 15.19 and a beta of 1.05. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. The business’s 50 day simple moving average is $190.75 and its 200 day simple moving average is $203.11.

Alamo Group (NYSE:ALG) last posted its earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.01. The business had revenue of $425.59 million for the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same period in the previous year, the firm posted $2.79 earnings per share. As a group, research analysts anticipate that Alamo Group Inc. will post 12.3 EPS for the current year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Tuesday, April 16th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Monday, April 15th. Alamo Group’s payout ratio is presently 9.25%.

Wall Street Analysts Forecast Growth

ALG has been the topic of several recent analyst reports. DA Davidson lowered their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, May 6th.

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.