State of Alaska Department of Revenue reduced its position in Alamo Group Inc. (NYSE:ALG – Free Report) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,791 shares of the industrial products company’s stock after selling 256 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Alamo Group worth $1,248,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in Alamo Group by 5,380.0% in the first quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company’s stock worth $50,000 after buying an additional 269 shares during the last quarter. FMR LLC lifted its stake in Alamo Group by 17.4% in the second quarter. FMR LLC now owns 701 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 104 shares during the last quarter. Captrust Financial Advisors lifted its stake in Alamo Group by 30.1% in the first quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 223 shares during the last quarter. KBC Group NV lifted its stake in Alamo Group by 10.7% in the first quarter. KBC Group NV now owns 877 shares of the industrial products company’s stock valued at $162,000 after acquiring an additional 85 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Alamo Group by 539.9% in the second quarter. Macquarie Group Ltd. now owns 1,894 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 1,598 shares during the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.
Alamo Group Price Performance
Shares of Alamo Group stock opened at $170.44 on Friday. Alamo Group Inc. has a 1-year low of $134.39 and a 1-year high of $200.81. The company has a current ratio of 4.06, a quick ratio of 2.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.36 and a beta of 1.01. The firm has a fifty day simple moving average of $172.67 and a 200-day simple moving average of $178.45.
Alamo Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, October 13th. Alamo Group’s payout ratio is currently 8.45%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on ALG. Raymond James reduced their target price on shares of Alamo Group from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. StockNews.com began coverage on Alamo Group in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Robert W. Baird began coverage on Alamo Group in a research report on Thursday, August 31st. They issued an “outperform” rating and a $201.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $204.50.
Insider Activity at Alamo Group
In related news, CEO Jeffery Allen Leonard sold 583 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $172.81, for a total transaction of $100,748.23. Following the completion of the transaction, the chief executive officer now directly owns 29,363 shares in the company, valued at approximately $5,074,220.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.
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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