Royal Bank of Canada Sells 17,039 Shares of Alamo Group, Inc. $ALG

Royal Bank of Canada reduced its position in shares of Alamo Group, Inc. (NYSE:ALG) by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,796 shares of the industrial products company’s stock after selling 17,039 shares during the period. Royal Bank of Canada owned approximately 0.70% of Alamo Group worth $14,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC increased its stake in shares of Alamo Group by 0.4% in the third quarter. Natixis Advisors LLC now owns 15,926 shares of the industrial products company’s stock valued at $3,040,000 after buying an additional 61 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Alamo Group by 6.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,633 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 101 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Alamo Group by 1.7% in the fourth quarter. State of Alaska Department of Revenue now owns 6,250 shares of the industrial products company’s stock valued at $1,048,000 after purchasing an additional 106 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alamo Group by 0.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,970 shares of the industrial products company’s stock worth $4,192,000 after buying an additional 117 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Alamo Group by 1.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,744 shares of the industrial products company’s stock worth $1,472,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

ALG has been the subject of a number of analyst reports. DA Davidson reiterated a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.00.

Alamo Group Trading Up 1.4%

Alamo Group stock opened at $168.55 on Friday. The stock has a market cap of $2.05 billion, a P/E ratio of 20.21, a PEG ratio of 0.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.45 and a current ratio of 4.39. The firm’s fifty day moving average price is $161.09 and its 200-day moving average price is $172.31. Alamo Group, Inc. has a fifty-two week low of $145.76 and a fifty-two week high of $233.29.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08. The firm had revenue of $450.73 million during the quarter, compared to the consensus estimate of $437.48 million. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. Equities research analysts forecast that Alamo Group, Inc. will post 10.48 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is presently 16.31%.

Alamo Group Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.