New York State Common Retirement Fund Sells 872 Shares of Alamo Group Inc. (NYSE:ALG)

New York State Common Retirement Fund reduced its holdings in Alamo Group Inc. (NYSE:ALG) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,726 shares of the industrial products company’s stock after selling 872 shares during the quarter. New York State Common Retirement Fund’s holdings in Alamo Group were worth $2,254,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates bought a new position in Alamo Group in the 4th quarter worth about $215,000. Diversified Trust Co bought a new position in Alamo Group in the 4th quarter worth about $290,000. TIAA Trust National Association bought a new position in Alamo Group in the 3rd quarter worth about $257,000. Lido Advisors LLC bought a new position in Alamo Group in the 3rd quarter worth about $263,000. Finally, Campbell & CO Investment Adviser LLC increased its stake in Alamo Group by 91.1% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 2,509 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 1,196 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michael A. Haberman sold 418 shares of the company’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 completion of the transaction, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALG. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday. DA Davidson lowered their price objective on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday.

Alamo Group Stock Up 0.5 %

ALG opened at $194.12 on Wednesday. The company has a market cap of $2.34 billion, a P/E ratio of 17.27 and a beta of 1.07. Alamo Group Inc. has a 12 month low of $157.74 and a 12 month high of $231.40. The business’s 50-day moving average price is $208.06 and its 200-day moving average price is $201.02. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The business had revenue of $425.59 million for the quarter. During the same period last year, the firm earned $2.79 earnings per share. On average, equities analysts expect that Alamo Group Inc. will post 13.17 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.04 annualized dividend and a yield of 0.54%. Alamo Group’s payout ratio is currently 9.25%.

About Alamo Group

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.