ProShare Advisors LLC Decreases Stock Holdings in Alamo Group Inc. (NYSE:ALG)

ProShare Advisors LLC lowered its stake in Alamo Group Inc. (NYSE:ALG) by 8.0% during the 1st quarter, HoldingsChannel reports. The firm owned 38,682 shares of the industrial products company’s stock after selling 3,354 shares during the period. ProShare Advisors LLC’s holdings in Alamo Group were worth $8,832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Quadrature Capital Ltd lifted its holdings in shares of Alamo Group by 62.4% during the 4th quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock valued at $4,002,000 after buying an additional 7,311 shares during the period. RK Capital Management LLC raised its stake in Alamo Group by 81.2% during the 4th quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock worth $11,405,000 after acquiring an additional 24,310 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Alamo Group during the 4th quarter valued at $1,093,000. Raymond James & Associates bought a new position in Alamo Group in the 4th quarter worth $215,000. Finally, Vanguard Group Inc. increased its stake in Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after buying an additional 7,121 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ALG shares. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday. DA Davidson dropped their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th.

Alamo Group Price Performance

Shares of NYSE ALG traded up $0.79 during mid-day trading on Wednesday, hitting $185.47. 70,289 shares of the company’s stock traded hands, compared to its average volume of 72,159. The company has a market capitalization of $2.23 billion, a P/E ratio of 16.43 and a beta of 1.04. Alamo Group Inc. has a 1 year low of $157.74 and a 1 year high of $231.40. The company’s 50-day moving average is $182.08 and its two-hundred day moving average is $199.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.29 and a quick ratio of 2.49.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.01. The firm had revenue of $425.59 million during the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same quarter in the previous year, the firm earned $2.79 earnings per share. On average, equities analysts anticipate that Alamo Group Inc. will post 12.3 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Tuesday, July 16th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. Alamo Group’s dividend payout ratio is currently 9.25%.

Alamo Group Profile

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.