Envestnet Portfolio Solutions Inc. Reduces Stock Position in Alamo Group Inc. (NYSE:ALG)

Envestnet Portfolio Solutions Inc. cut its holdings in Alamo Group Inc. (NYSE:ALG) by 17.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,137 shares of the industrial products company’s stock after selling 241 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Alamo Group were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in shares of Alamo Group by 442.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after buying an additional 168 shares during the last quarter. KBC Group NV boosted its stake in Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 189 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Alamo Group by 192.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 534 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Alamo Group during the fourth quarter worth about $200,000. Finally, Choreo LLC purchased a new stake in shares of Alamo Group in the 4th quarter valued at about $201,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Price Performance

Alamo Group stock opened at $180.66 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The business has a 50 day simple moving average of $184.91 and a 200-day simple moving average of $184.76. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $227.22. The stock has a market capitalization of $2.18 billion, a PE ratio of 18.19 and a beta of 1.10.

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

Alamo Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is currently 12.46%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALG shares. Baird R W downgraded 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 cut their target price for the company from $224.00 to $177.00 in a report on Friday, February 28th. DA Davidson reduced their price target on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research report on Monday, March 3rd. Finally, StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

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.