Alamo Group Inc. (NYSE:ALG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in Alamo Group Inc. (NYSE:ALG) by 32.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,734 shares of the industrial products company’s stock after selling 4,659 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Alamo Group worth $1,684,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ALG. Contravisory Investment Management Inc. lifted its position in Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after buying an additional 159 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Alamo Group during the fourth quarter worth approximately $52,000. nVerses Capital LLC bought a new position in Alamo Group in the 2nd quarter worth approximately $52,000. Finally, Bessemer Group Inc. increased its position in Alamo Group by 1,885.7% in the 1st 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 during the period. 92.36% of the stock is owned by institutional investors.

Alamo Group Price Performance

Shares of NYSE ALG opened at $178.16 on Thursday. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 15.85 and a beta of 1.07. The firm has a 50-day moving average of $179.93 and a two-hundred day moving average of $189.24. Alamo Group Inc. has a twelve month low of $157.74 and a twelve month high of $231.40.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The firm had revenue of $416.30 million during the quarter. During the same period in the previous year, the business posted $3.03 EPS. As a group, analysts expect that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal 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 issued a $0.26 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.58%. Alamo Group’s dividend payout ratio is 9.25%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALG. DA Davidson boosted their price target on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Robert W. Baird reduced their price objective on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th.

Insider Buying and Selling

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Richard Hodges Raborn sold 300 shares of the 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 transaction, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward Rizzuti sold 322 shares of the firm’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 transaction of $57,409.38. Following the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

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.