Smartleaf Asset Management LLC Buys 168 Shares of Alamo Group Inc. (NYSE:ALG)

Smartleaf Asset Management LLC lifted its stake in shares of Alamo Group Inc. (NYSE:ALG) by 442.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206 shares of the industrial products company’s stock after purchasing an additional 168 shares during the period. Smartleaf Asset Management LLC’s holdings in Alamo Group were worth $38,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALG. State of New Jersey Common Pension Fund D lifted its holdings in Alamo Group by 10.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,705 shares of the industrial products company’s stock worth $1,928,000 after buying an additional 971 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Alamo Group during the third quarter worth $1,138,000. Victory Capital Management Inc. lifted its stake in shares of Alamo Group by 7.4% during the third quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock valued at $74,830,000 after acquiring an additional 28,786 shares during the period. Huntington National Bank boosted its holdings in Alamo Group by 10.4% in the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 63 shares during the last quarter. Finally, Quest Partners LLC increased its position in Alamo Group by 2,243.2% in the third quarter. Quest Partners LLC now owns 5,319 shares of the industrial products company’s stock worth $958,000 after purchasing an additional 5,092 shares during the period. 92.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the sale, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Alamo Group Stock Performance

Shares of NYSE:ALG opened at $185.92 on Wednesday. The firm’s 50 day simple moving average is $183.03 and its 200 day simple moving average is $184.22. Alamo Group Inc. has a fifty-two week low of $163.74 and a fifty-two week high of $228.88. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.72 and a beta of 1.10. 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 (NYSE:ALG) last issued its earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.23 by $0.16. The firm had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. As a group, sell-side analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio (DPR) is presently 12.46%.

Wall Street Analysts Forecast Growth

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

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.