Arizona State Retirement System Cuts Stake in Alamo Group Inc. (NYSE:ALG)

Arizona State Retirement System trimmed its position in shares of Alamo Group Inc. (NYSE:ALG) by 1.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,022 shares of the industrial products company’s stock after selling 53 shares during the quarter. Arizona State Retirement System’s holdings in Alamo Group were worth $635,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of Alamo Group by 277.8% in the fourth quarter. Morgan Stanley now owns 278,133 shares of the industrial products company’s stock worth $39,384,000 after acquiring an additional 204,507 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Alamo Group by 8.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock worth $96,065,000 after purchasing an additional 53,730 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Alamo Group by 317.7% in the second quarter. Goldman Sachs Group Inc. now owns 59,710 shares of the industrial products company’s stock worth $6,952,000 after purchasing an additional 45,416 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Alamo Group by 4.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock worth $100,603,000 after purchasing an additional 36,290 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Alamo Group by 251.1% in the third quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock worth $7,643,000 after purchasing an additional 31,621 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Trading Down 0.8 %

Shares of Alamo Group stock opened at $205.02 on Friday. The company’s fifty day simple moving average is $212.08 and its 200-day simple moving average is $198.28. The stock has a market capitalization of $2.47 billion, a PE ratio of 18.05 and a beta of 1.04. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.22). The business had revenue of $417.54 million for the quarter. Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. As a group, equities analysts anticipate that Alamo Group Inc. will post 13.17 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Tuesday, April 16th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, April 15th. Alamo Group’s dividend payout ratio (DPR) is 9.15%.

Insider Activity at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of Alamo Group stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the transaction, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALG shares. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Tuesday. DA Davidson raised their target price on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th.

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.