Pinebridge Investments L.P. boosted its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,248 shares of the industrial products company’s stock after purchasing an additional 17 shares during the quarter. Pinebridge Investments L.P.’s holdings in Alamo Group were worth $113,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Texas Permanent School Fund increased its holdings in shares of Alamo Group by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 80 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Alamo Group by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the industrial products company’s stock valued at $354,000 after acquiring an additional 100 shares during the last quarter. Mason Street Advisors LLC increased its holdings in shares of Alamo Group by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 144 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Alamo Group by 10.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 156 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Alamo Group by 1.2% in the 1st quarter. Legal & General Group Plc now owns 15,757 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

Shares of Alamo Group, Inc. (ALG) opened at 108.49 on Friday. The stock has a 50 day moving average price of $96.95 and a 200-day moving average price of $88.34. The company has a market capitalization of $1.26 billion, a P/E ratio of 27.89 and a beta of 0.95. Alamo Group, Inc. has a one year low of $58.30 and a one year high of $111.02.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.05 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.05. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. The company had revenue of $213.28 million during the quarter, compared to the consensus estimate of $217.90 million. Equities research analysts predict that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Monday, October 16th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.37%. Alamo Group’s payout ratio is presently 10.28%.

A number of brokerages have recently weighed in on ALG. ValuEngine downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Piper Jaffray Companies set a $104.00 price target on Alamo Group and gave the company a “buy” rating in a report on Sunday, October 1st. Finally, Zacks Investment Research upgraded Alamo Group from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $99.33.

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In other news, VP Geoff Davies sold 4,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $98.16, for a total value of $392,640.00. Following the completion of 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 legal filing with the SEC, which is available at this link. Also, EVP Richard Hodges Raborn sold 364 shares of the 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 completion of the transaction, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at $414,855. The disclosure for this sale can be found here. Corporate insiders own 3.99% of the company’s stock.

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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