Acrospire Investment Management LLC increased its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 150.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,173 shares of the industrial products company’s stock after purchasing an additional 704 shares during the quarter. Acrospire Investment Management LLC’s holdings in Alamo Group were worth $107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund boosted its holdings in Alamo Group by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 80 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Alamo Group by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the industrial products company’s stock valued at $354,000 after acquiring an additional 100 shares during the period. Mason Street Advisors LLC boosted its holdings in Alamo Group by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 144 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Alamo Group by 10.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 156 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Alamo Group by 1.2% during the 1st quarter. Legal & General Group Plc now owns 15,757 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 184 shares during the period. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

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In other Alamo Group news, EVP Richard Hodges Raborn sold 364 shares of Alamo Group stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at approximately $414,855. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Geoff Davies sold 4,000 shares of Alamo Group stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $98.16, for a total value of $392,640.00. Following the sale, the vice president now directly owns 3,800 shares of the company’s stock, valued at $373,008. The disclosure for this sale can be found here. Company insiders own 3.99% of the company’s stock.

Shares of Alamo Group, Inc. (ALG) opened at 101.12 on Friday. The stock has a market capitalization of $1.18 billion, a PE ratio of 25.99 and a beta of 0.96. Alamo Group, Inc. has a one year low of $58.30 and a one year high of $102.10. The firm has a 50 day moving average price of $91.84 and a 200 day moving average price of $85.65.

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 firm had revenue of $213.28 million during the quarter, compared to analyst estimates of $217.90 million. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. Analysts predict that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Friday, September 15th. ValuEngine upgraded Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Piper Jaffray Companies set a $104.00 target price on Alamo Group and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, BidaskClub cut Alamo Group from a “hold” rating to a “sell” rating in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $96.67.

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

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