Crestline Management LP Acquires Shares of 1,100 Alamo Group Inc. (NYSE:ALG)

Crestline Management LP acquired a new stake in shares of Alamo Group Inc. (NYSE:ALG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,100 shares of the industrial products company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 168 shares during the period. KBC Group NV lifted its holdings in shares of Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 189 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 69 shares during the period. Raymond James Financial Inc. bought a new position in shares of Alamo Group during the fourth quarter valued at $200,000. Finally, Choreo LLC bought a new position in shares of Alamo Group during the fourth quarter valued at $201,000. 92.36% of the stock is owned by institutional investors.

Alamo Group Price Performance

Shares of ALG opened at $190.66 on Monday. 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 1 year low of $157.07 and a 1 year high of $205.62. The stock has a market cap of $2.30 billion, a P/E ratio of 19.20 and a beta of 1.02. The stock’s 50-day moving average price is $175.73 and its two-hundred day moving average price is $183.35.

Alamo Group (NYSE:ALG) last issued its earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The firm had revenue of $390.95 million for the quarter, compared to analysts’ expectations of $391.08 million. On average, equities analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group’s dividend payout ratio (DPR) is presently 12.50%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALG. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research note on Monday, March 3rd. Baird R W lowered Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird lowered Alamo Group from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $224.00 to $177.00 in a research note on Friday, February 28th. Finally, DA Davidson lowered their target price on Alamo Group from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Monday, April 21st.

About Alamo Group

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.