State of Alaska Department of Revenue Trims Stock Holdings in Alamo Group, Inc. (NYSE:ALG)

State of Alaska Department of Revenue decreased its holdings in Alamo Group, Inc. (NYSE:ALG) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,747 shares of the industrial products company’s stock after selling 138 shares during the period. State of Alaska Department of Revenue’s holdings in Alamo Group were worth $1,024,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Rhumbline Advisers grew its stake in Alamo Group by 2.5% in the 4th quarter. Rhumbline Advisers now owns 33,166 shares of the industrial products company’s stock worth $6,166,000 after buying an additional 801 shares in the last quarter. Principal Financial Group Inc. grew its stake in Alamo Group by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 56,936 shares of the industrial products company’s stock worth $10,585,000 after buying an additional 2,200 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Alamo Group by 20.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 4,448 shares of the industrial products company’s stock worth $827,000 after buying an additional 758 shares in the last quarter. US Bancorp DE grew its stake in Alamo Group by 0.9% in the 4th quarter. US Bancorp DE now owns 16,761 shares of the industrial products company’s stock worth $3,116,000 after buying an additional 142 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Alamo Group by 442.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of Alamo Group stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the transaction, the executive vice president now owns 12,948 shares in the company, valued at $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total value of $705,320.00. Following the sale, the chief executive officer now owns 40,913 shares in the company, valued at $8,244,787.76. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ALG shares. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Wall Street Zen upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a report on Monday, March 3rd. DA Davidson lowered their price target on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating for the company in a report on Monday, April 21st. Finally, Robert W. Baird lowered shares of Alamo Group from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $224.00 to $177.00 in a report on Friday, February 28th.

Alamo Group Trading Up 1.2%

ALG stock opened at $219.19 on Friday. The firm has a fifty day moving average price of $195.38 and a 200 day moving average price of $186.99. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $220.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.62 and a current ratio of 4.30. The firm has a market cap of $2.65 billion, a PE ratio of 22.83 and a beta of 1.07.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. The company had revenue of $390.95 million during the quarter, compared to the consensus estimate of $391.08 million. Sell-side analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.55%. Alamo Group’s payout ratio is currently 12.50%.

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.