Maryland State Retirement & Pension System Sells 474 Shares of Alamo Group, Inc. (NYSE:ALG)

Maryland State Retirement & Pension System lessened its stake in Alamo Group, Inc. (NYSE:ALG) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,028 shares of the industrial products company’s stock after selling 474 shares during the period. Maryland State Retirement & Pension System’s holdings in Alamo Group were worth $540,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock valued at $29,000 after buying an additional 72 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Alamo Group by 110.6% in the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 125 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 61 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Alamo Group in the 4th quarter valued at about $79,000. Finally, CWM LLC lifted its stake in shares of Alamo Group by 520.9% in the 1st quarter. CWM LLC now owns 981 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 823 shares during the period. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Down 2.7%

ALG stock opened at $226.14 on Friday. The stock’s 50 day simple moving average is $219.56 and its 200 day simple moving average is $195.75. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $233.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The company has a market cap of $2.74 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 1.21 and a beta of 1.10.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. The firm had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. On average, research analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 16th. Alamo Group’s dividend payout ratio is 12.22%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALG. Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Robert W. Baird raised Alamo Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Wall Street Zen downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd.

About Alamo Group

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.