Texas Permanent School Fund Corp Sells 1,310 Shares of Alamo Group Inc. (NYSE:ALG)

Texas Permanent School Fund Corp reduced its stake in Alamo Group Inc. (NYSE:ALG) by 14.5% during the second quarter, Holdings Channel.com reports. The firm owned 7,731 shares of the industrial products company’s stock after selling 1,310 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Alamo Group were worth $1,337,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Contravisory Investment Management Inc. lifted its position in shares of Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 47 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Alamo Group by 174.7% in the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 159 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Alamo Group in the fourth quarter valued at about $52,000. nVerses Capital LLC purchased a new position in shares of Alamo Group in the second quarter valued at about $52,000. Finally, Bessemer Group Inc. lifted its position in shares of Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 264 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

Alamo Group Trading Up 1.7 %

Shares of NYSE ALG opened at $184.81 on Friday. The business’s 50 day moving average is $179.86 and its two-hundred day moving average is $189.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. The stock has a market capitalization of $2.23 billion, a P/E ratio of 16.44 and a beta of 1.07.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.44). Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. The company had revenue of $416.30 million for the quarter. During the same quarter in the prior year, the firm earned $3.03 earnings per share. As a group, research analysts expect that Alamo Group Inc. will post 10.23 EPS for the current year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. Alamo Group’s dividend payout ratio is 9.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson lifted their target price on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird reduced their target price on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd.

Insider Activity

In other news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Alamo Group Company 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.