Teachers Retirement System of The State of Kentucky Cuts Stake in Alamo Group, Inc. (NYSE:ALG)
Teachers Retirement System of The State of Kentucky cut its position in Alamo Group, Inc. (NYSE:ALG) by 29.8% during the first quarter, Holdings Channel reports. The institutional investor owned 3,300 shares of the industrial products company’s stock after selling 1,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Alamo Group were worth $251,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in ALG. Karp Capital Management Corp acquired a new stake in shares of Alamo Group during the first quarter worth approximately $430,000. Swiss National Bank raised its stake in Alamo Group by 4.6% in the first quarter. Swiss National Bank now owns 16,000 shares of the industrial products company’s stock valued at $1,219,000 after buying an additional 700 shares during the period. Comerica Bank raised its stake in Alamo Group by 3.8% in the first quarter. Comerica Bank now owns 10,418 shares of the industrial products company’s stock valued at $832,000 after buying an additional 380 shares during the period. BNP Paribas Arbitrage SA raised its stake in Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after buying an additional 156 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Alamo Group by 37.5% in the first quarter. Bank of New York Mellon Corp now owns 179,240 shares of the industrial products company’s stock valued at $13,655,000 after buying an additional 48,873 shares during the period. 88.98% of the stock is currently owned by institutional investors and hedge funds.
Alamo Group, Inc. (NYSE ALG) traded down 0.530% during mid-day trading on Friday, reaching $91.035. 8,544 shares of the company’s stock traded hands. The company has a 50 day moving average price of $92.29 and a 200-day moving average price of $82.66. Alamo Group, Inc. has a 12 month low of $58.30 and a 12 month high of $95.62. The stock has a market cap of $1.06 billion, a P/E ratio of 23.402 and a beta of 0.95.
Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.05. The firm had revenue of $213.28 million for the quarter, compared to the consensus estimate of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. On average, analysts anticipate that Alamo Group, Inc. will post $4.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 17th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Thursday, July 13th. Alamo Group’s dividend payout ratio is 10.28%.
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ALG has been the topic of several analyst reports. Zacks Investment Research raised shares of Alamo Group from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research report on Friday, May 5th. Seaport Global Securities upped their price target on shares of Alamo Group from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price target on shares of Alamo Group in a research report on Friday, July 14th. Finally, BidaskClub lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd.
In other Alamo Group news, VP Dan Edward Malone sold 950 shares of Alamo Group stock in a transaction on Monday, June 12th. The shares were sold at an average price of $90.75, for a total transaction of $86,212.50. Following the transaction, the vice president now directly owns 11,950 shares of the company’s stock, valued at approximately $1,084,462.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David W. Grzelak sold 2,201 shares of Alamo Group stock in a transaction on Monday, June 19th. The stock was sold at an average price of $92.18, for a total transaction of $202,888.18. Following the transaction, the director now directly owns 1,325 shares in the company, valued at $122,138.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,335 shares of company stock worth $305,830 over the last ninety days. Insiders own 3.99% of the company’s stock.
About Alamo Group
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. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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