Commonwealth Equity Services LLC Acquires Shares of 7,522 Alamo Group Inc. (NYSE:ALG)

Commonwealth Equity Services LLC bought a new position in shares of Alamo Group Inc. (NYSE:ALG) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,522 shares of the industrial products company’s stock, valued at approximately $1,398,000. Commonwealth Equity Services LLC owned 0.06% of Alamo Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALG. Wellington Management Group LLP acquired a new stake in Alamo Group during the third quarter worth approximately $35,759,000. Victory Capital Management Inc. lifted its position 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 valued at $83,421,000 after acquiring an additional 33,294 shares during the period. Allspring Global Investments Holdings LLC grew its holdings 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. Tributary Capital Management LLC increased its position in shares of Alamo Group by 16.0% in the fourth quarter. Tributary Capital Management LLC now owns 116,584 shares of the industrial products company’s stock worth $21,674,000 after purchasing an additional 16,093 shares during the period. Finally, Barclays PLC raised its stake in Alamo Group by 204.7% in the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock valued at $4,039,000 after purchasing an additional 15,061 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Trading Down 2.9 %

ALG opened at $180.66 on Monday. The company has a market cap of $2.18 billion, a P/E ratio of 18.19 and a beta of 1.10. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $184.91 and its 200-day moving average is $184.93. 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 data 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 business had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Equities research analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were given a dividend of $0.30 per share. 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 0.66%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is currently 12.46%.

Analysts Set New Price Targets

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

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.