Intech Investment Management LLC Boosts Holdings in Alamo Group Inc. (NYSE:ALG)

Intech Investment Management LLC boosted its position in shares of Alamo Group Inc. (NYSE:ALG) by 63.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,405 shares of the industrial products company’s stock after acquiring an additional 1,718 shares during the period. Intech Investment Management LLC’s holdings in Alamo Group were worth $819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC grew its stake in shares of 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 in the last quarter. FORA Capital LLC grew its stake in Alamo Group by 6.7% during the 3rd quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 88 shares in the last quarter. Swiss National Bank increased its holdings in Alamo Group by 0.5% during the 4th 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 during the last quarter. Tidal Investments LLC raised its position in shares of Alamo Group by 3.8% in 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 in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Alamo Group by 0.9% during the 4th quarter. US Bancorp DE now owns 16,761 shares of the industrial products company’s stock valued at $3,116,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

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

Alamo Group Stock Down 2.3 %

NYSE:ALG opened at $183.97 on Monday. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $184.30 and a 200-day moving average of $184.44. The firm has a market capitalization of $2.22 billion, a PE ratio of 18.53 and a beta of 1.10. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $228.88.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.41% and a net margin of 7.19%. Analysts predict that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were given a $0.30 dividend. 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. This represents a $1.20 annualized dividend and a yield of 0.65%. Alamo Group’s dividend payout ratio (DPR) 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.