Norges Bank Makes New $6.79 Million Investment in Alamo Group Inc. (NYSE:ALG)

Norges Bank acquired a new stake in shares of Alamo Group Inc. (NYSE:ALG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 36,500 shares of the industrial products company’s stock, valued at approximately $6,786,000. Norges Bank owned 0.30% of Alamo Group at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cornerstone Investment Partners LLC raised its holdings in Alamo Group by 2.2% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 56 shares during the period. Swiss National Bank grew its position in shares of Alamo Group by 0.5% during the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock worth $3,737,000 after purchasing an additional 100 shares in the last quarter. Tidal Investments LLC raised its stake in Alamo Group by 3.8% during the 3rd quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 113 shares during the period. US Bancorp DE lifted its holdings in Alamo Group by 0.9% in the 4th quarter. US Bancorp DE now owns 16,761 shares of the industrial products company’s stock worth $3,116,000 after purchasing an additional 142 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Alamo Group by 442.1% in 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 during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

ALG stock opened at $158.67 on Wednesday. The company has a fifty day simple moving average of $182.22 and a two-hundred day simple moving average of $184.30. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $222.88. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.92 billion, a P/E ratio of 15.98 and a beta of 1.00.

Alamo Group (NYSE:ALG) last released its quarterly 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. Analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, April 16th. This represents a $1.20 annualized dividend and a yield of 0.76%. Alamo Group’s payout ratio is presently 12.46%.

Analysts Set New Price Targets

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