Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in Alamo Group Inc. (NYSE:ALG – Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,896 shares of the industrial products company’s stock after selling 117 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.09% of Alamo Group worth $2,007,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its position in Alamo Group by 17.4% in the second quarter. FMR LLC now owns 701 shares of the industrial products company’s stock worth $81,000 after buying an additional 104 shares in the last quarter. KBC Group NV increased its position in Alamo Group by 10.7% in the first quarter. KBC Group NV now owns 877 shares of the industrial products company’s stock worth $162,000 after buying an additional 85 shares in the last quarter. Captrust Financial Advisors increased its position in Alamo Group by 30.1% in the first quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock worth $139,000 after buying an additional 223 shares in the last quarter. Financial Planning & Information Services Inc. purchased a new stake in Alamo Group in the first quarter worth about $222,000. Finally, Intercontinental Wealth Advisors LLC purchased a new stake in Alamo Group in the first quarter worth about $250,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on ALG shares. StockNews.com started coverage on Alamo Group in a research report on Thursday. They set a “buy” rating for the company. DA Davidson increased their target price on Alamo Group from $208.00 to $212.00 in a research report on Thursday, June 8th. Finally, Raymond James cut their target price on Alamo Group from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alamo Group currently has an average rating of “Buy” and a consensus price target of $205.67.
Insider Activity
In other news, CFO Richard J. Wehrle sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $182.28, for a total value of $273,420.00. Following the completion of the sale, the chief financial officer now directly owns 25,723 shares of the company’s stock, valued at approximately $4,688,788.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard J. Wehrle sold 1,500 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $182.28, for a total value of $273,420.00. Following the sale, the chief financial officer now directly owns 25,723 shares in the company, valued at $4,688,788.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffery Allen Leonard sold 583 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $172.81, for a total value of $100,748.23. Following the completion of the sale, the chief executive officer now owns 29,363 shares in the company, valued at $5,074,220.03. The disclosure for this sale can be found here. Insiders sold 3,249 shares of company stock valued at $588,211 in the last ninety days. Insiders own 2.30% of the company’s stock.
Alamo Group Price Performance
Shares of Alamo Group stock opened at $170.24 on Friday. The stock has a 50 day moving average of $185.41 and a 200 day moving average of $177.64. Alamo Group Inc. has a 12 month low of $118.73 and a 12 month high of $200.81. The firm has a market cap of $2.04 billion, a PE ratio of 16.34 and a beta of 1.01. The company has a current ratio of 4.06, a quick ratio of 2.34 and a debt-to-equity ratio of 0.38.
Alamo Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, July 17th. Alamo Group’s payout ratio is presently 8.45%.
Alamo Group Profile
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.
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