State of Alaska Department of Revenue Buys 441 Shares of Alamo Group, Inc. $ALG

State of Alaska Department of Revenue increased its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,188 shares of the industrial products company’s stock after purchasing an additional 441 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of Alamo Group worth $1,350,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of Alamo Group by 80.0% during the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alamo Group by 110.6% during the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 125 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Alamo Group by 30.0% during the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Alamo Group by 31.6% during the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 65 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 314 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Alamo Group Trading Up 0.1%

ALG opened at $191.69 on Friday. The firm’s fifty day moving average is $210.90 and its two-hundred day moving average is $201.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The firm has a market cap of $2.32 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.00 and a beta of 1.08. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $233.29.

Alamo Group (NYSE:ALG) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). The firm had revenue of $419.07 million during the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. Equities research analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Alamo Group’s dividend payout ratio is currently 12.22%.

Insider Activity

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the sale, the chief executive officer owned 38,413 shares of the company’s stock, valued at $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Baird R W raised shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Alamo Group in a report on Saturday, September 27th. Robert W. Baird upgraded shares of Alamo Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $209.00 to $260.00 in a report on Monday, August 4th. Finally, DA Davidson restated a “neutral” rating and issued a $225.00 price objective on shares of Alamo Group in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Alamo Group has an average rating of “Buy” and a consensus price target of $234.00.

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.