Sei Investments Co. Buys 3,517 Shares of Alamo Group Inc. (NYSE:ALG)

Sei Investments Co. increased its position in Alamo Group Inc. (NYSE:ALG) by 20.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,539 shares of the industrial products company’s stock after acquiring an additional 3,517 shares during the quarter. Sei Investments Co. owned about 0.17% of Alamo Group worth $3,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALG. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 168 shares during the period. KBC Group NV lifted its holdings in shares of 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 buying an additional 189 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Alamo Group by 192.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 534 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Alamo Group in the fourth quarter worth $200,000. Finally, Choreo LLC acquired a new stake in shares of Alamo Group in the fourth quarter worth $201,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Alamo Group Stock Performance

NYSE ALG opened at $181.81 on Thursday. Alamo Group Inc. has a 1-year low of $163.74 and a 1-year high of $224.02. The company has a 50 day moving average of $184.67 and a 200-day moving average of $184.93. 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 firm has a market cap of $2.20 billion, a price-to-earnings ratio of 18.31 and a beta of 1.10.

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

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.66%. Alamo Group’s dividend payout ratio is currently 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.