Blueshift Asset Management LLC Acquires Shares of 2,317 Alamo Group Inc. (NYSE:ALG)

Blueshift Asset Management LLC acquired a new stake in shares of Alamo Group Inc. (NYSE:ALG) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,317 shares of the industrial products company’s stock, valued at approximately $431,000.

A number of other institutional investors have also modified their holdings of ALG. Smartleaf Asset Management LLC raised its stake in shares of Alamo Group by 442.1% during 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 increased its stake in shares of Alamo Group by 57.1% in the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 189 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Alamo Group by 192.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 534 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Alamo Group in the 4th quarter valued at about $200,000. Finally, Choreo LLC purchased a new position in shares of Alamo Group in the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALG shares. DA Davidson cut their price target on Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Industrial Alliance Securities set a $217.00 price target on Alamo Group in a research note on Monday, March 3rd. Baird R W lowered Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird lowered Alamo Group from an “outperform” rating to a “neutral” rating and cut their price target for the company from $224.00 to $177.00 in a research note on Friday, February 28th. Finally, StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th.

Alamo Group Trading Up 0.0 %

ALG stock opened at $188.30 on Friday. 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 12-month low of $163.74 and a 12-month high of $228.88. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 18.96 and a beta of 1.10. The business’s 50-day moving average is $184.08 and its 200 day moving average is $184.36.

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

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were issued a dividend of $0.30 per share. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, January 16th. Alamo Group’s payout ratio is currently 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.