Public Sector Pension investment Board decreased its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 25.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,900 shares of the industrial products company’s stock after selling 1,700 shares during the quarter. Public Sector Pension investment Board’s holdings in Alamo Group were worth $445,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ALG. BlackRock Inc. increased its stake in shares of Alamo Group by 1,076.3% in the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock worth $97,174,000 after acquiring an additional 1,167,004 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Alamo Group by 37.5% in the first quarter. Bank of New York Mellon Corp now owns 179,240 shares of the industrial products company’s stock worth $13,655,000 after acquiring an additional 48,873 shares during the period. Vanguard Group Inc. increased its stake in shares of Alamo Group by 9.0% in the first quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock worth $37,828,000 after acquiring an additional 41,187 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Alamo Group by 69.9% in the second quarter. Ameriprise Financial Inc. now owns 95,920 shares of the industrial products company’s stock worth $8,711,000 after acquiring an additional 39,455 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Alamo Group by 80.9% in the second quarter. Prudential Financial Inc. now owns 62,659 shares of the industrial products company’s stock worth $5,690,000 after acquiring an additional 28,030 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.
In other Alamo Group news, VP Geoff Davies sold 4,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $98.16, for a total value of $392,640.00. Following the transaction, the vice president now directly owns 3,800 shares of the company’s stock, valued at approximately $373,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 364 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $92.19, for a total transaction of $33,557.16. Following the transaction, the executive vice president now directly owns 4,500 shares in the company, valued at $414,855. The disclosure for this sale can be found here. Insiders own 3.99% of the company’s stock.
A number of research firms have recently weighed in on ALG. Zacks Investment Research lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday. ValuEngine lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Piper Jaffray Companies set a $104.00 price objective on shares of Alamo Group and gave the stock a “buy” rating in a research note on Sunday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $99.33.
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Shares of Alamo Group, Inc. (NYSE ALG) opened at 108.57 on Wednesday. Alamo Group, Inc. has a 52-week low of $58.30 and a 52-week high of $111.02. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 27.91 and a beta of 0.95. The company’s 50-day moving average is $98.06 and its 200 day moving average is $89.03.
Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.05. The company had revenue of $213.28 million for the quarter, compared to analysts’ expectations of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. On average, analysts expect that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Monday, October 16th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.40 annualized dividend and a yield of 0.37%. Alamo Group’s dividend payout ratio is currently 10.28%.
About Alamo Group
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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