Arizona State Retirement System Trims Stock Position in Alamo Group Inc. (NYSE:ALG)

Arizona State Retirement System lessened its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,022 shares of the industrial products company’s stock after selling 53 shares during the quarter. Arizona State Retirement System’s holdings in Alamo Group were worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in Alamo Group by 33.5% during the second quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock valued at $50,000 after buying an additional 68 shares during the period. NewEdge Advisors LLC grew its position in Alamo Group by 5,380.0% during the first quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company’s stock valued at $50,000 after buying an additional 269 shares during the period. FMR LLC grew its position in Alamo Group by 17.4% during the second quarter. FMR LLC now owns 701 shares of the industrial products company’s stock valued at $81,000 after buying an additional 104 shares during the period. Captrust Financial Advisors grew its position in Alamo Group by 30.1% during the first quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock valued at $139,000 after buying an additional 223 shares during the period. Finally, State of Wyoming grew its position in Alamo Group by 61.5% during the second quarter. State of Wyoming now owns 1,043 shares of the industrial products company’s stock valued at $192,000 after buying an additional 397 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALG shares. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson raised their price target on shares of Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th.

Insider Buying and Selling

In related news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the transaction, the executive vice president now directly owns 19,206 shares in the company, valued at $4,299,647.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Alamo Group Stock Down 0.8 %

Shares of NYSE ALG opened at $205.02 on Friday. The company’s 50-day simple moving average is $212.08 and its 200-day simple moving average is $198.28. Alamo Group Inc. has a 52-week low of $157.74 and a 52-week high of $231.40. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 18.05 and a beta of 1.04. The company has a quick ratio of 1.99, a current ratio of 3.76 and a debt-to-equity ratio of 0.24.

Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The company had revenue of $417.54 million during the quarter. Equities analysts predict that Alamo Group Inc. will post 13.17 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Tuesday, April 16th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, April 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Alamo Group’s payout ratio is presently 9.15%.

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.