Comerica Bank has recently decreased its holdings in Alamo Group Inc. (NYSE:ALG) by 21.4% during the fourth quarter, according to financial filings with the Securities & Exchange Commission. The decrease amounted to 1,690 shares sold, leaving Comerica Bank with 6,202 shares of ALG stock and a stake worth approximately $955,000. Despite Comerica Bank’s reduction in the industrial products company’s stocks, research reports have maintained a favorable outlook on ALG.
StockNews.com initiated coverage on shares of Alamo Group placing a “buy” rating for the company due to its positive performance; while DA Davidson upgraded ALG from a “neutral” rating to a “buy” rating and increased their price target for the company from $173.00 to $196.00.
As of Monday, ALG stock is being traded at $180.28 with a market cap of $2.16 billion and P/E ratio standing at 21.11 with a relatively stable beta index of 0.98. Over the past year alone, ALG shares have ranged between highs of up to $186.37 and lows down to $108.35 indicating positive growth throughout.
In addition, Alamo Group Inc.’s ability to maintain financial stability has been evident through its strong financial ratios such as current ratio holding at 3.82 and quick ratio at 1.97 despite having a debt-to-equity ratio of just 0.37.
The decrease in Comerica Bank’s holdings in Alamo Group Inc., although significant for Comerica Bank, has not impacted the overall outlook portrayed by investment research agencies regarding ALG’s future potential growth rate making it an ideal investment opportunity for businesses looking towards expansionary opportunities within their respective industries or those seeking profitable long-term investments overall.
Alamo Group Inc.’s consistent performance over the last year has validated the views of investment research agencies and renders it to be an attractive investment option for institutions or businesses looking to expand their respective industries. Despite Comerica Bank’s reduction in holdings, Alamo Group’s financial stability and positive performance over the past year make it a profitable long-term investment opportunity.
Alamo Group Inc. Attracts Leading Hedge Funds and Institutional Investors, Demonstrating Confidence for Future Growth
Alamo Group Inc., a well-established industrial product company, has stirred up quite the buzz in the market recently. The firm has been gaining traction and increasing its value via attracting leading hedge funds to invest in their stock. Among these are Quadrant Capital Group LLC, which acquired a new stake valued at $29,000 in shares during the 3rd quarter, whereas Lazard Asset Management LLC added a new stake worth $32,000 and Point72 Hong Kong Ltd also secured shares valued at $44,000 in the same period. Meanwhile, FMR LLC raised its holding by 17.4% to total over $81k after purchasing an additional 104 shares while Captrust Financial Advisors increased their holdings by 30.1%, managing to acquire additional 223 shares of Alamo Group stock.
It is worth noting that almost 92% of the company’s stocks are currently owned by institutional investors and hedge funds; showing great confidence investors have for the future growth projections of Alamo Group Inc.
In terms of organizational changes taking place within Alamo Group Inc., EVP Edward Rizzuti and VP Janet S Pollock both made sales transactions concerning shares belonging o the company on March 8th and March 1st respectively. Rizzuti sold as many as 394 stocks for approximately $184 per share amounting to over $72k whilst Pollock sold fewer shares but still managed to profit about over $27k after selling150 of them on March 1st.
Consequently, several research reports have been published regarding ALG’s recent market activity with StockNews.com initiating coverage while giving a “buy” rating which DA Davidson upgraded from “neutral” to “buy” However this firm has reported impressive performance numbers with its Q4 report having earnings per share (EPS) of around $2.44 surpassing previous estimates from analysts’ consensus results by almost $.50.
Moreover, investors remained confident in ALG’s future, with the company announcing recently a quarterly dividend of $0.22 per share which will be paid on May 1st. With a payout ratio of 10.30%, Alamo Group Inc. appears to be in healthy financial shape; suggesting that it is well-positioned for additional growth and long-term profitability projections.