Commonwealth Equity Services LLC Takes Position in Alamo Group Inc. (NYSE:ALG)

Commonwealth Equity Services LLC acquired a new position in Alamo Group Inc. (NYSE:ALG) during the 4th quarter, HoldingsChannel reports. The fund acquired 7,522 shares of the industrial products company’s stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Swiss National Bank grew its position in shares of Alamo Group by 0.5% in the 4th quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock valued at $3,737,000 after buying an additional 100 shares during the last quarter. TradeLink Capital LLC acquired a new position in shares of Alamo Group in the fourth quarter worth approximately $259,000. Amundi boosted its holdings in Alamo Group by 186.9% in the fourth quarter. Amundi now owns 5,238 shares of the industrial products company’s stock valued at $923,000 after acquiring an additional 3,412 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Alamo Group during the 4th quarter valued at approximately $200,000. Finally, Aigen Investment Management LP acquired a new stake in Alamo Group during the 4th quarter valued at approximately $206,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Alamo Group Stock Down 2.9 %

Alamo Group stock opened at $180.66 on Monday. The company has a market capitalization of $2.18 billion, a PE ratio of 18.19 and a beta of 1.10. Alamo Group Inc. has a 12-month low of $163.74 and a 12-month high of $227.22. The firm’s fifty day moving average is $184.91 and its 200 day moving average is $184.93. 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 announced its quarterly earnings data 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 firm had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. As a group, sell-side analysts predict that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

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