Alamo Group Inc. (NYSE:ALG) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its holdings in Alamo Group Inc. (NYSE:ALG) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,538 shares of the industrial products company’s stock after selling 831 shares during the period. Invesco Ltd. owned approximately 0.34% of Alamo Group worth $7,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in Alamo Group by 13.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 23,972 shares of the industrial products company’s stock valued at $4,457,000 after buying an additional 2,915 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Alamo Group by 16.7% in the fourth quarter. Wells Fargo & Company MN now owns 15,885 shares of the industrial products company’s stock valued at $2,953,000 after purchasing an additional 2,275 shares during the period. Pitcairn Co. raised its stake in Alamo Group by 22.8% during the fourth quarter. Pitcairn Co. now owns 2,284 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 424 shares during the period. Alliancebernstein L.P. boosted its holdings in Alamo Group by 7.5% in the 4th quarter. Alliancebernstein L.P. now owns 12,170 shares of the industrial products company’s stock valued at $2,263,000 after purchasing an additional 854 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Alamo Group in the 4th quarter valued at approximately $6,786,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Stock Up 1.1 %

Shares of Alamo Group stock opened at $170.37 on Friday. Alamo Group Inc. has a 52-week low of $157.07 and a 52-week high of $205.62. The company has a 50 day moving average of $178.10 and a 200 day moving average of $183.38. The company has a market capitalization of $2.06 billion, a P/E ratio of 17.16 and a beta of 1.00. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG) last posted its earnings results 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. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The firm had revenue of $385.32 million during the quarter, compared to analysts’ expectations of $396.85 million. As a group, research analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The company 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 $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Wednesday, April 16th. Alamo Group’s payout ratio is currently 12.46%.

Analyst Ratings Changes

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

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.