Kennedy Capital Management Inc. Cuts Stake in Alamo Group, Inc. (ALG)
Kennedy Capital Management Inc. lowered its holdings in Alamo Group, Inc. (NYSE:ALG) by 16.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 144,941 shares of the industrial products company’s stock after selling 27,937 shares during the quarter. Kennedy Capital Management Inc.’s holdings in Alamo Group were worth $16,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in ALG. Vanguard Group Inc. increased its stake in shares of Alamo Group by 5.7% in the second quarter. Vanguard Group Inc. now owns 524,765 shares of the industrial products company’s stock worth $47,654,000 after acquiring an additional 28,280 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Alamo Group by 87.0% in the second quarter. Parametric Portfolio Associates LLC now owns 17,077 shares of the industrial products company’s stock worth $1,551,000 after acquiring an additional 7,946 shares during the period. Voya Investment Management LLC increased its stake in shares of Alamo Group by 9.4% in the second quarter. Voya Investment Management LLC now owns 5,336 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 457 shares during the period. State Street Corp increased its stake in shares of Alamo Group by 5.7% in the second quarter. State Street Corp now owns 225,191 shares of the industrial products company’s stock worth $20,447,000 after acquiring an additional 12,110 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Alamo Group in the third quarter worth $210,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.
A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of Alamo Group from a “sell” rating to a “strong-buy” rating and set a $131.00 price objective on the stock in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $105.00.
Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, March 1st. The industrial products company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.06. The firm had revenue of $243.26 million for the quarter, compared to analyst estimates of $229.40 million. Alamo Group had a net margin of 4.86% and a return on equity of 12.67%. research analysts forecast that Alamo Group, Inc. will post 5.05 EPS for the current fiscal year.
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Alamo Group Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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