California Public Employees Retirement System increased its stake in Alamo Group Inc. (NYSE:ALG) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,300 shares of the company’s stock after buying an additional 200 shares during the period. California Public Employees Retirement System owned about 0.26% of Alamo Group worth $1,999,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. GW&K Investment Management LLC bought a new position in shares of Alamo Group during the second quarter valued at $13,032,000. Bank of New York Mellon Corp boosted its position in shares of Alamo Group by 138.7% in the second quarter. Bank of New York Mellon Corp now owns 112,866 shares of the company’s stock valued at $7,446,000 after buying an additional 65,579 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Alamo Group by 15.9% in the first quarter. Franklin Resources Inc. now owns 441,740 shares of the company’s stock valued at $24,609,000 after buying an additional 60,630 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Alamo Group during the first quarter valued at $2,471,000. Finally, AXA bought a new position in shares of Alamo Group during the first quarter valued at $1,242,000. Institutional investors and hedge funds own 92.77% of the company’s stock.
Shares of Alamo Group Inc. (NYSE:ALG) traded up 1.15% during mid-day trading on Thursday, reaching $66.87. The company’s stock had a trading volume of 76,975 shares. The firm’s 50 day moving average price is $64.84 and its 200-day moving average price is $61.61. Alamo Group Inc. has a 1-year low of $43.98 and a 1-year high of $68.04. The company has a market capitalization of $768.87 million, a price-to-earnings ratio of 16.98 and a beta of 0.92.
Alamo Group (NYSE:ALG) last issued its earnings results on Thursday, August 4th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by $0.09. Alamo Group had a net margin of 5.16% and a return on equity of 12.34%. The company earned $211.50 million during the quarter, compared to analysts’ expectations of $219.74 million. On average, analysts predict that Alamo Group Inc. will post $3.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%. Alamo Group’s dividend payout ratio (DPR) is presently 9.14%.
Several analysts have recently commented on ALG shares. Zacks Investment Research lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $70.00 price target (up previously from $68.00) on shares of Alamo Group in a research report on Wednesday, August 10th.
In other news, VP Geoff Davies sold 5,000 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $65.87, for a total value of $329,350.00. Following the sale, the vice president now directly owns 17,500 shares in the company, valued at $1,152,725. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard J. Wehrle sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $63.59, for a total transaction of $158,975.00. Following the completion of the sale, the vice president now owns 11,649 shares in the company, valued at $740,759.91. The disclosure for this sale can be found here. 3.63% of the stock is currently owned by company insiders.
Alamo Group Company Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
Want to see what other hedge funds are holding ALG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alamo Group Inc. (NYSE:ALG).
Receive News & Ratings for Alamo Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alamo Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.