Public Sector Pension Investment Board Grows Position in Alamo Group Inc. (NYSE:ALG)

Public Sector Pension Investment Board raised its stake in shares of Alamo Group Inc. (NYSE:ALG) by 7.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 22,762 shares of the industrial products company’s stock after purchasing an additional 1,579 shares during the period. Public Sector Pension Investment Board owned 0.19% of Alamo Group worth $3,938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Contravisory Investment Management Inc. grew its stake in shares of Alamo Group by 73.4% during the 1st 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 during the period. First Horizon Advisors Inc. boosted 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 worth $43,000 after purchasing an additional 159 shares during the period. Quest Partners LLC bought a new position in shares of Alamo Group in the fourth quarter worth approximately $52,000. nVerses Capital LLC bought a new stake in shares of Alamo Group during the 2nd quarter valued at $52,000. Finally, Bessemer Group Inc. raised its position in shares of Alamo Group by 1,885.7% during the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Activity at Alamo Group

In related news, EVP Richard Hodges Raborn sold 300 shares of the firm’s 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 transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the sale, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction of $57,409.38. Following the completion of the sale, the executive vice president now owns 7,765 shares in the company, valued at $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 Stock Up 0.4 %

Shares of ALG stock opened at $180.86 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 16.38 and a beta of 1.07. Alamo Group Inc. has a one year low of $157.74 and a one year high of $231.40. The company’s fifty day moving average price is $179.84 and its 200-day moving average price is $189.18. 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 (NYSE:ALG) last posted its earnings results 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). The company had revenue of $416.30 million for the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same period last year, the firm earned $3.03 earnings per share. Sell-side analysts expect that Alamo Group Inc. will post 10.23 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors 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 annualized dividend and a yield of 0.58%. Alamo Group’s payout ratio is 9.25%.

Analyst Upgrades and Downgrades

ALG has been the topic of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. DA Davidson raised their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

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.