Rice Hall James & Associates LLC cut its position in Alamo Group Inc. (NYSE:ALG) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 40,474 shares of the company’s stock after selling 973 shares during the period. Rice Hall James & Associates LLC’s holdings in Alamo Group were worth $2,670,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. GW&K Investment Management LLC purchased a new position in Alamo Group during the second quarter valued at about $13,032,000. Louisiana State Employees Retirement System purchased a new position in Alamo Group during the second quarter valued at about $277,000. National Investment Services Inc. WI purchased a new position in Alamo Group during the second quarter valued at about $286,000. New York State Teachers Retirement System raised its position in Alamo Group by 651.5% in the second quarter. New York State Teachers Retirement System now owns 6,012 shares of the company’s stock valued at $397,000 after buying an additional 5,212 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Alamo Group during the second quarter valued at about $108,000. 92.77% of the stock is owned by institutional investors.
Shares of Alamo Group Inc. (NYSE:ALG) traded up 0.70% during midday trading on Thursday, hitting $66.57. 127,787 shares of the stock were exchanged. The stock has a 50 day moving average price of $64.84 and a 200-day moving average price of $61.61. The company has a market cap of $765.42 million, a PE ratio of 16.90 and a beta of 0.92. Alamo Group Inc. has a 12 month low of $43.98 and a 12 month high of $68.04.
Alamo Group (NYSE:ALG) last released 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. The business had revenue of $211.50 million for the quarter, compared to analyst estimates of $219.74 million. Alamo Group had a return on equity of 12.34% and a net margin of 5.16%. On average, analysts predict that Alamo Group Inc. will post $3.82 EPS for the current year.
The firm 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 dividend of $0.09 per share. 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 equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Alamo Group from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $70.00 price objective (up from $68.00) on shares of Alamo Group in a report on Wednesday, August 10th.
In other news, VP Geoff Davies sold 5,000 shares of the firm’s stock in a transaction 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 approximately $1,152,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard J. Wehrle sold 2,500 shares of the firm’s stock in a transaction 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. Company insiders own 3.63% of the company’s stock.
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.
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