Alamo Group, Inc. $ALG Holdings Cut by North Star Investment Management Corp.

North Star Investment Management Corp. reduced its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 23.2% during the 1st quarter, HoldingsChannel reports. The fund owned 16,550 shares of the industrial products company’s stock after selling 5,000 shares during the period. North Star Investment Management Corp.’s holdings in Alamo Group were worth $2,730,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alamo Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company’s stock valued at $1,084,000 after purchasing an additional 251 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Alamo Group by 164.7% during the 1st quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock valued at $11,332,000 after buying an additional 39,564 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after buying an additional 314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alamo Group by 12.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company’s stock valued at $6,444,000 after buying an additional 4,062 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Alamo Group by 83.7% in the second quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company’s stock worth $16,899,000 after buying an additional 35,248 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on ALG. DA Davidson reduced their target price on shares of Alamo Group from $190.00 to $188.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. William Blair started coverage on shares of Alamo Group in a report on Monday, March 16th. They set an “outperform” rating on the stock. Finally, Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Alamo Group currently has an average rating of “Moderate Buy” and an average target price of $224.00.

Alamo Group Stock Up 0.0%

Shares of ALG stock opened at $168.81 on Monday. The stock’s 50 day simple moving average is $158.85 and its 200 day simple moving average is $175.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. Alamo Group, Inc. has a twelve month low of $145.76 and a twelve month high of $233.29. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.99 and a beta of 1.11.

Alamo Group (NYSE:ALG) last announced its earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%.The firm had revenue of $417.15 million during the quarter, compared to analysts’ expectations of $398.02 million. As a group, research analysts predict that Alamo Group, Inc. will post 10.65 EPS for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, April 15th. Alamo Group’s payout ratio is presently 16.27%.

About Alamo Group

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.