New York State Teachers Retirement System Sells 70 Shares of Alamo Group Inc. (NYSE:ALG)

New York State Teachers Retirement System trimmed its position in shares of Alamo Group Inc. (NYSE:ALG – Get Rating) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,712 shares of the industrial products company’s stock after selling 70 shares during the period. New York State Teachers Retirement System’s holdings in Alamo Group were worth $332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALG. Pinebridge Investments L.P. bought a new position in Alamo Group during the second quarter valued at about $27,000. FMR LLC grew its stake in shares of Alamo Group by 17.4% in the 2nd quarter. FMR LLC now owns 701 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 104 shares during the period. KBC Group NV bought a new stake in shares of Alamo Group in the 2nd quarter valued at approximately $92,000. Captrust Financial Advisors grew its stake in shares of Alamo Group by 30.1% in the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 223 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of Alamo Group by 16.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 1,666 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 240 shares during the period. 91.67% of the stock is currently owned by institutional investors.

Alamo Group Stock Up 2.7 %

NYSE:ALG opened at $150.41 on Friday. The stock’s fifty day moving average price is $146.88 and its two-hundred day moving average price is $137.47. Alamo Group Inc. has a 52-week low of $108.35 and a 52-week high of $158.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.01 and a current ratio of 3.89. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 19.48 and a beta of 0.99.

Alamo Group (NYSE:ALG – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The industrial products company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.32). The company had revenue of $368.79 million during the quarter. Alamo Group had a net margin of 6.28% and a return on equity of 12.80%. On average, analysts anticipate that Alamo Group Inc. will post 8.14 EPS for the current year.

Alamo Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Wednesday, January 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, January 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Alamo Group’s previous quarterly dividend of $0.18. Alamo Group’s dividend payout ratio is 11.40%.

Analyst Ratings Changes

Several research firms have recently weighed in on ALG. EF Hutton Acquisition Co. I began coverage on Alamo Group in a research note on Wednesday, October 19th. They issued a “buy” rating and a $195.00 price objective on the stock. StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a report on Thursday, December 8th. Finally, DA Davidson upped their price objective on Alamo Group from $136.00 to $156.00 in a report on Monday, November 7th.

About Alamo Group

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Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.