Public Employees Retirement System of Ohio Purchases New Position in Alamo Group Inc. (NYSE:ALG)

Public Employees Retirement System of Ohio bought a new stake in shares of Alamo Group Inc. (NYSE:ALG) in the 4th quarter, Holdings Channel reports. The fund bought 35,399 shares of the industrial products company’s stock, valued at approximately $6,581,000.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alamo Group by 22.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,100 shares of the industrial products company’s stock worth $5,968,000 after purchasing an additional 5,850 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of Alamo Group during the fourth quarter valued at approximately $16,971,000. Occudo Quantitative Strategies LP bought a new stake in shares of Alamo Group during the fourth quarter valued at approximately $226,000. Millennium Management LLC increased its stake in shares of Alamo Group by 19.4% during the fourth quarter. Millennium Management LLC now owns 24,024 shares of the industrial products company’s stock valued at $4,466,000 after acquiring an additional 3,904 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alamo Group by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,833 shares of the industrial products company’s stock valued at $1,084,000 after acquiring an additional 211 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ALG shares. DA Davidson lowered their price objective on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $224.00 to $177.00 in a report on Friday, February 28th. Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a report on Monday, March 3rd. Finally, Wall Street Zen upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

Insiders Place Their Bets

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total transaction of $100,920.00. Following the completion of the transaction, the executive vice president now owns 12,948 shares of the company’s stock, valued at $2,613,424.32. The trade was a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total transaction of $705,320.00. Following the transaction, the chief executive officer now directly owns 40,913 shares of the company’s stock, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Alamo Group Trading Up 2.5%

Shares of NYSE:ALG opened at $201.85 on Wednesday. The stock has a market capitalization of $2.44 billion, a PE ratio of 20.33 and a beta of 1.02. Alamo Group Inc. has a 1 year low of $157.07 and a 1 year high of $205.62. The firm has a fifty day moving average price of $179.43 and a 200 day moving average price of $184.84. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.32. The firm had revenue of $390.95 million during the quarter, compared to analysts’ expectations of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Analysts expect that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, April 16th. Alamo Group’s dividend payout ratio is 12.50%.

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.