Envestnet Portfolio Solutions Inc. Cuts Stake in Alamo Group Inc. (NYSE:ALG)

Envestnet Portfolio Solutions Inc. cut its stake in Alamo Group Inc. (NYSE:ALG) by 17.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,137 shares of the industrial products company’s stock after selling 241 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Alamo Group were worth $211,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ALG. Smartleaf Asset Management LLC grew its holdings in 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 in the last quarter. KBC Group NV increased its position in Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in 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 period. Raymond James Financial Inc. acquired a new position in Alamo Group in the 4th quarter valued at about $200,000. Finally, Choreo LLC purchased a new stake in shares of Alamo Group in the 4th quarter valued at approximately $201,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Stock Down 2.9 %

Shares of ALG opened at $180.66 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 stock has a market capitalization of $2.18 billion, a PE ratio of 18.19 and a beta of 1.10. The company’s 50-day simple moving average is $184.91 and its 200-day simple moving average is $184.76. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year high of $227.22.

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

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio (DPR) is presently 12.46%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ALG shares. Baird R W cut Alamo Group from a “strong-buy” rating to a “hold” rating 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 on the stock in a research note on Monday, March 3rd. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Robert W. Baird lowered 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 research report on Friday, February 28th. Finally, Industrial Alliance Securities set a $217.00 price target on Alamo Group in a research report on Monday, March 3rd.

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.