T. Rowe Price Investment Management Inc. Buys 395 Shares of Alamo Group Inc. (NYSE:ALG)

T. Rowe Price Investment Management Inc. boosted its stake in shares of Alamo Group Inc. (NYSE:ALG) by 0.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 88,586 shares of the industrial products company’s stock after purchasing an additional 395 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Alamo Group were worth $16,470,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Alamo Group by 204.7% during the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock worth $4,039,000 after purchasing an additional 15,061 shares during the period. Virtu Financial LLC bought a new position in Alamo Group during the third quarter worth about $273,000. Tidal Investments LLC boosted its position in Alamo Group by 3.8% during the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 113 shares during the period. JPMorgan Chase & Co. boosted its position in Alamo Group by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company’s stock worth $13,790,000 after purchasing an additional 9,710 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in Alamo Group by 0.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 46,735 shares of the industrial products company’s stock worth $8,689,000 after purchasing an additional 286 shares during the period. Institutional investors own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

ALG has been the subject of a number of research reports. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird lowered shares of 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 cut their price objective on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Finally, Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research report on Monday, March 3rd.

Alamo Group Trading Down 1.4 %

Shares of ALG opened at $168.15 on Monday. The firm’s 50 day simple moving average is $177.73 and its 200 day simple moving average is $183.51. The company has a market capitalization of $2.03 billion, a P/E ratio of 16.93 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group Inc. has a 1-year low of $157.07 and a 1-year high of $205.62.

Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.16. The business had revenue of $385.32 million for the quarter, compared to the consensus estimate of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Sell-side analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, April 16th. Alamo Group’s dividend payout ratio is currently 12.46%.

Alamo Group Company 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.