PNC Financial Services Group Inc. Has $559,000 Stake in Alamo Group Inc. (NYSE:ALG)

PNC Financial Services Group Inc. decreased its holdings in Alamo Group Inc. (NYSE:ALG) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Alamo Group in the fourth quarter worth approximately $52,000. Vanguard Personalized Indexing Management LLC acquired a new position in Alamo Group in the fourth quarter worth approximately $208,000. FCA Corp TX acquired a new position in Alamo Group in the fourth quarter worth approximately $210,000. Raymond James & Associates acquired a new position in Alamo Group in the fourth quarter worth approximately $215,000. Finally, Semanteon Capital Management LP acquired a new position in Alamo Group in the fourth quarter worth approximately $230,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, May 6th. 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 report on Tuesday, May 7th.

Alamo Group Stock Down 0.3 %

ALG opened at $170.78 on Thursday. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. 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 stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 15.19 and a beta of 1.05. The business has a 50 day moving average of $190.75 and a 200-day moving average of $203.11.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The company had revenue of $425.59 million during the quarter. During the same period in the prior year, the company posted $2.79 earnings per share. As a group, sell-side analysts anticipate that Alamo Group Inc. will post 12.3 earnings per share for the current year.

Alamo Group Dividend Announcement

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

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.