Alamo Group Inc. (NYSE:ALG) Stake Cut by Fayez Sarofim & Co

Fayez Sarofim & Co decreased its holdings in Alamo Group Inc. (NYSE:ALG) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,500 shares of the industrial products company’s stock after selling 15,000 shares during the period. Fayez Sarofim & Co owned about 1.09% of Alamo Group worth $24,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its stake 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 purchasing an additional 168 shares in the last quarter. KBC Group NV boosted its position in shares of 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 period. Summit Investment Advisors Inc. increased its position in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 69 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Alamo Group in the fourth quarter valued at $200,000. Finally, Choreo LLC bought a new position in Alamo Group during the fourth quarter worth about $201,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird lowered shares of Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $224.00 to $177.00 in a report on Friday, February 28th. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. DA Davidson lowered their target price on Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research report on Monday, March 3rd. Finally, Baird R W cut Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th.

Alamo Group Price Performance

Shares of NYSE ALG opened at $167.40 on Monday. The company has a fifty day moving average price of $179.57 and a 200 day moving average price of $183.74. The firm has a market cap of $2.02 billion, a PE ratio of 16.86 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 1-year low of $157.07 and a 1-year high of $208.66.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data 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. The business had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. Research analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $1.20 annualized dividend and a yield of 0.72%. Alamo Group’s 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.