Envestnet Asset Management Inc. Purchases 2,915 Shares of Alamo Group Inc. (NYSE:ALG)

Envestnet Asset Management Inc. boosted its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,972 shares of the industrial products company’s stock after purchasing an additional 2,915 shares during the period. Envestnet Asset Management Inc.’s holdings in Alamo Group were worth $4,457,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings in shares of Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after buying an additional 168 shares in the last quarter. KBC Group NV grew its position in Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 189 shares during the last quarter. Raymond James Financial Inc. bought a new position in Alamo Group in the fourth quarter valued at about $200,000. Choreo LLC acquired a new position in Alamo Group during the fourth quarter worth about $201,000. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of Alamo Group in the fourth quarter worth about $203,000. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Trading Up 1.6 %

ALG opened at $168.41 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $205.92. The company’s 50 day moving average price is $178.39 and its two-hundred day moving average price is $183.42. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 16.96 and a beta of 1.00.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.16. The company had revenue of $385.32 million for 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%. As a group, research analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.71%. Alamo Group’s payout ratio is 12.46%.

Wall Street Analysts Forecast Growth

ALG has been the topic of several research reports. DA Davidson decreased their price target on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird downgraded shares of Alamo Group from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $224.00 to $177.00 in a report on Friday, February 28th. Industrial Alliance Securities set a $217.00 price target on Alamo Group in a research note on Monday, March 3rd. Baird R W lowered Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th.

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.