Strs Ohio reduced its position in Alamo Group Inc. (NYSE:ALG) by 20.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,000 shares of the company’s stock after selling 14,000 shares during the period. Strs Ohio’s holdings in Alamo Group were worth $3,496,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ALG. GW&K Investment Management LLC bought a new position in Alamo Group during the second quarter worth approximately $13,032,000. Franklin Resources Inc. raised its position in Alamo Group by 15.9% in the first quarter. Franklin Resources Inc. now owns 441,740 shares of the company’s stock worth $24,609,000 after buying an additional 60,630 shares during the last quarter. Renaissance Technologies LLC bought a new position in Alamo Group during the first quarter worth approximately $2,471,000. AXA bought a new position in Alamo Group during the first quarter worth approximately $1,242,000. Finally, Spark Investment Management LLC bought a new position in Alamo Group during the first quarter worth approximately $328,000. 92.77% of the stock is owned by hedge funds and other institutional investors.
Alamo Group Inc. (NYSE:ALG) traded down 0.74% during midday trading on Friday, reaching $66.08. The company had a trading volume of 54,156 shares. The firm has a 50-day moving average price of $64.93 and a 200-day moving average price of $61.71. The company has a market capitalization of $759.79 million, a price-to-earnings ratio of 16.78 and a beta of 0.92. Alamo Group Inc. has a 52 week low of $43.98 and a 52 week high of $68.04.
Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.01 by $0.09. The company earned $211.50 million during the quarter, compared to analysts’ expectations of $219.74 million. Alamo Group had a return on equity of 12.34% and a net margin of 5.16%. Analysts expect that Alamo Group Inc. will post $3.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.54%. Alamo Group’s dividend payout ratio (DPR) is 9.14%.
ALG has been the subject of a number of analyst reports. Zacks Investment Research lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Piper Jaffray Cos. reissued an “overweight” rating and set a $70.00 price objective (up previously from $68.00) on shares of Alamo Group in a research note on Wednesday, August 10th.
In other news, VP Richard J. Wehrle sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $63.59, for a total value of $158,975.00. Following the completion of the sale, the vice president now directly owns 11,649 shares in the company, valued at approximately $740,759.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.63% of the stock is owned by 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.
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