Renaissance Technologies LLC Reduces Stake in Alamo Group Inc. (NYSE:ALG)

Renaissance Technologies LLC trimmed its stake in Alamo Group Inc. (NYSE:ALG) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,600 shares of the industrial products company’s stock after selling 1,400 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of Alamo Group worth $3,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Alamo Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock worth $134,070,000 after purchasing an additional 2,361 shares during the period. Allspring Global Investments Holdings LLC grew its position in Alamo Group by 4.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after buying an additional 30,826 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Alamo Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after acquiring an additional 33,294 shares during the period. Geode Capital Management LLC increased its position in shares of Alamo Group by 0.3% in the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after buying an additional 670 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alamo Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company’s stock valued at $26,222,000 after acquiring an additional 6,666 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Stock Up 2.8 %

ALG stock opened at $165.53 on Wednesday. The company has a market capitalization of $2.00 billion, a P/E ratio of 16.67 and a beta of 1.00. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a twelve month low of $157.07 and a twelve month high of $208.66. The firm has a 50 day simple moving average of $178.72 and a 200-day simple moving average of $183.52.

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

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders 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 dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, April 16th. Alamo Group’s dividend payout ratio (DPR) is presently 12.46%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Robert W. Baird downgraded Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $224.00 to $177.00 in a research report on Friday, February 28th. 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. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a report on Monday, March 3rd. Finally, DA Davidson decreased their price target on Alamo Group from $217.00 to $195.00 and set a “buy” rating for the company in a report on Monday.

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.