New York State Teachers Retirement System Buys 609 Shares of Alamo Group Inc. (NYSE:ALG)

New York State Teachers Retirement System grew its stake in Alamo Group Inc. (NYSE:ALGFree Report) by 23.3% during the 1st quarter, HoldingsChannel reports. The firm owned 3,221 shares of the industrial products company’s stock after acquiring an additional 609 shares during the quarter. New York State Teachers Retirement System’s holdings in Alamo Group were worth $735,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in Alamo Group by 42.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock valued at $83,906,000 after buying an additional 119,636 shares during the last quarter. Tributary Capital Management LLC bought a new position in Alamo Group in the 1st quarter valued at $12,844,000. Vaughan Nelson Investment Management L.P. boosted its position in Alamo Group by 19.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock valued at $73,223,000 after buying an additional 53,195 shares during the last quarter. RK Capital Management LLC bought a new position in Alamo Group in the 3rd quarter valued at $5,177,000. Finally, Cerity Partners LLC boosted its position in Alamo Group by 75.0% in the 4th quarter. Cerity Partners LLC now owns 53,570 shares of the industrial products company’s stock valued at $11,260,000 after buying an additional 22,951 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Trading Down 2.0 %

Shares of ALG stock traded down $3.69 during trading hours on Tuesday, reaching $179.19. The company had a trading volume of 140,188 shares, compared to its average volume of 68,429. The company has a 50 day moving average of $199.03 and a 200 day moving average of $203.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.29 and a quick ratio of 2.49. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 15.94 and a beta of 1.05. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40.

Alamo Group (NYSE:ALGGet Free Report) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.66 by $0.01. The business had revenue of $425.59 million for the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same period in the previous year, the business posted $2.79 EPS. On average, equities research analysts anticipate that Alamo Group Inc. will post 12.3 EPS for the current year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Monday, April 15th. Alamo Group’s dividend payout ratio (DPR) is presently 9.25%.

Analysts Set New Price Targets

A number of research analysts have commented on ALG shares. DA Davidson decreased their price objective on Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

Get Our Latest Analysis on ALG

Insiders Place Their Bets

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of 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 is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Alamo Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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