State of New Jersey Common Pension Fund D Has $1.93 Million Holdings in Alamo Group Inc. (NYSE:ALG)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,705 shares of the industrial products company’s stock after purchasing an additional 971 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Alamo Group were worth $1,928,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JNBA Financial Advisors acquired a new position in Alamo Group in the third quarter valued at $37,000. Harbor Capital Advisors Inc. grew its position in Alamo Group by 152.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,449 shares of the industrial products company’s stock worth $8,367,000 after purchasing an additional 28,054 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Alamo Group by 700.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares in the last quarter. Tributary Capital Management LLC grew its position in Alamo Group by 9.7% in the 3rd quarter. Tributary Capital Management LLC now owns 100,491 shares of the industrial products company’s stock worth $18,101,000 after purchasing an additional 8,851 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in shares of Alamo Group by 128.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 10,252 shares of the industrial products company’s stock valued at $1,847,000 after acquiring an additional 5,769 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Price Performance

ALG stock opened at $194.31 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $231.40. The firm’s fifty day moving average is $179.79 and its 200 day moving average is $181.32. The firm has a market cap of $2.34 billion, a P/E ratio of 19.57 and a beta of 1.08.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is presently 10.47%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALG. Robert W. Baird increased their target price on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. DA Davidson increased their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th.

Insiders Place Their Bets

In other news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

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.