Smith Asset Management Group LP raised its position in shares of Alamo Group, Inc. (NYSE:ALG) by 253.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 35,230 shares of the industrial products company’s stock after buying an additional 25,270 shares during the period. Smith Asset Management Group LP’s holdings in Alamo Group were worth $3,199,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Alamo Group by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 47,400 shares of the industrial products company’s stock worth $4,305,000 after buying an additional 5,100 shares during the period. TD Asset Management Inc. boosted its stake in shares of Alamo Group by 15.0% in the second quarter. TD Asset Management Inc. now owns 9,200 shares of the industrial products company’s stock worth $835,000 after buying an additional 1,200 shares during the period. Texas Permanent School Fund boosted its stake in shares of Alamo Group by 1.2% in the second quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock worth $628,000 after buying an additional 80 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Alamo Group during the second quarter worth approximately $599,000. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Alamo Group by 5.4% in the second quarter. Great West Life Assurance Co. Can now owns 13,144 shares of the industrial products company’s stock worth $1,193,000 after buying an additional 670 shares during the period. Institutional investors and hedge funds own 88.98% of the company’s stock.

Shares of Alamo Group, Inc. (ALG) opened at 91.18 on Friday. The firm has a market capitalization of $1.06 billion, a PE ratio of 23.44 and a beta of 0.95. The company’s 50-day moving average is $92.34 and its 200 day moving average is $82.76. Alamo Group, Inc. has a 52-week low of $58.30 and a 52-week high of $95.62.

Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.05. The company had revenue of $213.28 million for the quarter, compared to analyst estimates of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. Equities analysts expect that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 17th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.44%. Alamo Group’s dividend payout ratio (DPR) is 10.28%.

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Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Tuesday, August 8th. BidaskClub cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies restated a “buy” rating and set a $90.00 price objective on shares of Alamo Group in a research report on Friday, July 14th. Finally, Seaport Global Securities raised their price objective 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.

In other Alamo Group news, VP Dan Edward Malone sold 950 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $90.75, for a total value of $86,212.50. Following the transaction, the vice president now directly owns 11,950 shares in the company, valued at approximately $1,084,462.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David W. Grzelak sold 2,201 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the transaction, the director now owns 1,325 shares in the company, valued at $122,138.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,335 shares of company stock worth $305,830. 3.99% of the stock is owned by insiders.

Alamo Group Company Profile

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

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