California Public Employees Retirement System lowered its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,400 shares of the industrial products company’s stock after selling 400 shares during the quarter. California Public Employees Retirement System owned 0.16% of Alamo Group worth $1,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALG. BlackRock Inc. raised its position in shares of Alamo Group by 1,076.3% during the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock worth $97,174,000 after purchasing an additional 1,167,004 shares during the period. Vanguard Group Inc. raised its position in shares of Alamo Group by 9.0% during the first quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock worth $37,828,000 after purchasing an additional 41,187 shares during the period. Ameriprise Financial Inc. raised its position in shares of Alamo Group by 69.9% during the second quarter. Ameriprise Financial Inc. now owns 95,920 shares of the industrial products company’s stock worth $8,711,000 after purchasing an additional 39,455 shares during the period. Prudential Financial Inc. raised its position in shares of Alamo Group by 80.9% during the second quarter. Prudential Financial Inc. now owns 62,659 shares of the industrial products company’s stock worth $5,690,000 after purchasing an additional 28,030 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Alamo Group by 49.6% during the second quarter. PNC Financial Services Group Inc. now owns 78,915 shares of the industrial products company’s stock worth $7,166,000 after purchasing an additional 26,172 shares during the period. 90.32% of the stock is currently owned by institutional investors.

Shares of Alamo Group, Inc. (NYSE ALG) opened at $110.65 on Friday. Alamo Group, Inc. has a 1 year low of $58.30 and a 1 year high of $114.34. The stock has a market capitalization of $1,287.08, a P/E ratio of 25.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.48 and a quick ratio of 2.98.

Alamo Group (NYSE:ALG) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.16. Alamo Group had a return on equity of 12.11% and a net margin of 5.56%. The business had revenue of $240.46 million for the quarter, compared to analyst estimates of $223.40 million. equities analysts expect that Alamo Group, Inc. will post 4.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Monday, October 16th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Friday, October 13th. Alamo Group’s dividend payout ratio is presently 9.59%.

ALG has been the topic of a number of research analyst reports. ValuEngine raised Alamo Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised Alamo Group from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Wednesday, September 6th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price target on shares of Alamo Group in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Alamo Group presently has an average rating of “Hold” and a consensus price target of $99.33.

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In related news, EVP Richard Hodges Raborn sold 364 shares of Alamo Group stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $92.19, for a total value of $33,557.16. Following the sale, the executive vice president now owns 4,500 shares of the company’s stock, valued at approximately $414,855. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President John Redmond bought 11,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $138.28 per share, for a total transaction of $1,521,080.00. The disclosure for this purchase can be found here. 3.99% of the stock is currently owned by company insiders.

Alamo Group Company 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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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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