Alamo Group Inc. (NYSE:ALG) Stock Position Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Alamo Group Inc. (NYSE:ALG) by 22.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,761 shares of the industrial products company’s stock after selling 523 shares during the period. PNC Financial Services Group Inc.’s holdings in Alamo Group were worth $327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Alamo Group by 4.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after purchasing an additional 30,826 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Alamo Group by 8.0% during the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after purchasing an additional 33,294 shares in the last quarter. State Street Corp raised its stake in shares of Alamo Group by 2.6% during the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after purchasing an additional 10,013 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Alamo Group by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after purchasing an additional 670 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Alamo Group during the 3rd quarter worth about $35,759,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Alamo Group Stock Performance

Shares of NYSE ALG opened at $183.97 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 18.53 and a beta of 1.10. The business’s 50-day simple moving average is $184.30 and its 200-day simple moving average is $184.35. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $228.88.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.41% and a net margin of 7.19%. As a group, equities research analysts expect that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.65%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio (DPR) is 12.46%.

About Alamo Group

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.