Louisiana State Employees Retirement System Takes Position in Alamo Group, Inc. $ALG

Louisiana State Employees Retirement System acquired a new stake in Alamo Group, Inc. (NYSE:ALG) during the first quarter, according to its most recent filing with the SEC. The firm acquired 4,800 shares of the industrial products company’s stock, valued at approximately $792,000.

A number of other large investors also recently bought and sold shares of ALG. Wasatch Advisors LP acquired a new position in shares of Alamo Group during the second quarter worth about $51,427,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Alamo Group in the 4th quarter valued at approximately $39,213,000. Goldman Sachs Group Inc. lifted its holdings in shares of Alamo Group by 239.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 157,291 shares of the industrial products company’s stock valued at $26,404,000 after buying an additional 110,941 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Alamo Group by 72.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 230,180 shares of the industrial products company’s stock worth $38,641,000 after acquiring an additional 96,369 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Alamo Group in the fourth quarter worth $13,049,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

ALG traded down $2.98 during midday trading on Tuesday, reaching $167.91. 15,195 shares of the company’s stock were exchanged, compared to its average volume of 161,009. The business’s 50-day moving average price is $158.53 and its 200 day moving average price is $174.84. The stock has a market capitalization of $2.04 billion, a PE ratio of 20.11, a P/E/G ratio of 1.00 and a beta of 1.09. Alamo Group, Inc. has a 1-year low of $145.76 and a 1-year high of $233.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.32 and a quick ratio of 2.45.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.36. The business had revenue of $417.15 million for the quarter, compared to the consensus estimate of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. As a group, equities analysts anticipate that Alamo Group, Inc. will post 10.65 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, July 16th. Alamo Group’s payout ratio is currently 16.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALG. DA Davidson reaffirmed a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. William Blair began coverage on shares of Alamo Group in a research report on Monday, March 16th. They set an “outperform” rating on the stock. Finally, Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.