Huntington National Bank Sells 86 Shares of Alamo Group Inc. (NYSE:ALG)

Huntington National Bank decreased its position in shares of Alamo Group Inc. (NYSE:ALG) by 12.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 583 shares of the industrial products company’s stock after selling 86 shares during the quarter. Huntington National Bank’s holdings in Alamo Group were worth $108,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in shares of Alamo Group by 7.5% in the fourth quarter. Alliancebernstein L.P. now owns 12,170 shares of the industrial products company’s stock worth $2,263,000 after acquiring an additional 854 shares during the period. Norges Bank purchased a new position in Alamo Group in the 4th quarter worth approximately $6,786,000. EntryPoint Capital LLC boosted its stake in Alamo Group by 115.9% in the 4th quarter. EntryPoint Capital LLC now owns 2,520 shares of the industrial products company’s stock worth $468,000 after purchasing an additional 1,353 shares during the period. Vanguard Group Inc. grew its holdings in Alamo Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock valued at $134,070,000 after buying an additional 2,361 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Alamo Group during the 4th quarter valued at approximately $372,000. Institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. 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. Baird R W downgraded Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. DA Davidson cut their price target on Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a report on Monday, March 3rd.

Alamo Group Trading Down 3.3 %

ALG opened at $165.35 on Monday. The stock has a 50-day moving average of $184.01 and a 200 day moving average of $184.80. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 12 month low of $163.26 and a 12 month high of $222.88. The firm has a market cap of $2.00 billion, a P/E ratio of 16.65 and a beta of 1.00.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.16. The firm had revenue of $385.32 million for 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%. As a group, research analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.73%. Alamo Group’s dividend payout ratio (DPR) is presently 12.46%.

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.