Comerica Bank Lowers Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Comerica Bank lowered its position in Alamo Group Inc. (NYSE:ALGGet Rating) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,892 shares of the industrial products company’s stock after selling 593 shares during the quarter. Comerica Bank’s holdings in Alamo Group were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALG. Pinebridge Investments L.P. acquired a new position in Alamo Group in the second quarter valued at $27,000. FMR LLC boosted its holdings in Alamo Group by 17.4% in the second quarter. FMR LLC now owns 701 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 104 shares during the last quarter. KBC Group NV acquired a new position in Alamo Group in the second quarter valued at $92,000. Captrust Financial Advisors boosted its holdings in Alamo Group by 30.1% in the first quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 223 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in Alamo Group by 16.8% in the second quarter. Mutual of America Capital Management LLC now owns 1,666 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ALG shares. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a report on Thursday, December 8th. DA Davidson boosted their price objective on Alamo Group from $136.00 to $156.00 in a research note on Monday, November 7th. Finally, EF Hutton Acquisition Co. I began coverage on Alamo Group in a research note on Wednesday, October 19th. They set a “buy” rating and a $195.00 price objective on the stock.

Alamo Group Trading Up 1.5 %

Shares of ALG opened at $152.71 on Tuesday. The stock’s 50-day moving average is $146.91 and its two-hundred day moving average is $138.03. The stock has a market cap of $1.83 billion, a PE ratio of 19.78 and a beta of 0.99. Alamo Group Inc. has a 12 month low of $108.35 and a 12 month high of $158.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.89 and a quick ratio of 2.01.

Alamo Group (NYSE:ALGGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The industrial products company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.32). Alamo Group had a return on equity of 12.80% and a net margin of 6.28%. The company had revenue of $368.79 million for the quarter. Equities analysts forecast that Alamo Group Inc. will post 8.14 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Wednesday, January 18th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.58%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, January 17th. Alamo Group’s payout ratio is presently 11.40%.

Alamo Group Company Profile

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Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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