Virtus Fund Advisers LLC cut its position in Alamo Group, Inc. (NYSE:ALG) by 30.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,174 shares of the industrial products company’s stock after selling 1,846 shares during the quarter. Virtus Fund Advisers LLC’s holdings in Alamo Group were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Alamo Group by 19.8% in the fourth quarter. BlackRock Inc. now owns 1,825,965 shares of the industrial products company’s stock valued at $206,099,000 after purchasing an additional 301,224 shares during the period. Vanguard Group Inc. boosted its holdings in Alamo Group by 5.7% in the second quarter. Vanguard Group Inc. now owns 524,765 shares of the industrial products company’s stock valued at $47,654,000 after purchasing an additional 28,280 shares during the period. State Street Corp boosted its holdings in Alamo Group by 5.7% in the second quarter. State Street Corp now owns 225,191 shares of the industrial products company’s stock valued at $20,447,000 after purchasing an additional 12,110 shares during the period. Northern Trust Corp boosted its holdings in Alamo Group by 12.9% in the second quarter. Northern Trust Corp now owns 195,300 shares of the industrial products company’s stock valued at $17,735,000 after purchasing an additional 22,244 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Alamo Group by 12.1% in the third quarter. Ameriprise Financial Inc. now owns 107,509 shares of the industrial products company’s stock valued at $11,545,000 after purchasing an additional 11,589 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.
A number of research analysts recently issued reports on ALG shares. ValuEngine upgraded Alamo Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Alamo Group has a consensus rating of “Hold” and a consensus price target of $105.00.
Shares of Alamo Group, Inc. (ALG) opened at $115.75 on Friday. The stock has a market capitalization of $1,307.02, a PE ratio of 27.76 and a beta of 0.93. The company has a current ratio of 4.48, a quick ratio of 2.85 and a debt-to-equity ratio of 0.28. Alamo Group, Inc. has a fifty-two week low of $70.53 and a fifty-two week high of $120.58.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Tuesday, January 16th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.38%. This is an increase from Alamo Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, January 12th. Alamo Group’s payout ratio is 10.55%.
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Alamo Group Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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