Public Employees Retirement System of Ohio Sells 5,540 Shares of Alamo Group Inc. (NYSE:ALG)

Public Employees Retirement System of Ohio lowered its position in shares of Alamo Group Inc. (NYSE:ALG) by 14.5% in the 1st quarter, HoldingsChannel reports. The firm owned 32,632 shares of the industrial products company’s stock after selling 5,540 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Alamo Group were worth $7,451,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALG. Contravisory Investment Management Inc. boosted its stake in Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after buying an additional 47 shares in the last quarter. Shaker Investments LLC OH lifted its holdings in shares of Alamo Group by 1.5% in the 1st quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock worth $911,000 after acquiring an additional 58 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Alamo Group by 5.2% during the 1st quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 72 shares during the last quarter. Texas Permanent School Fund Corp raised its position in Alamo Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 9,041 shares of the industrial products company’s stock worth $2,064,000 after purchasing an additional 117 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in Alamo Group by 2.9% in the fourth quarter. Yousif Capital Management LLC now owns 5,267 shares of the industrial products company’s stock worth $1,107,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

ALG has been the topic of several analyst reports. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson reduced their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th.

Alamo Group Stock Up 0.4 %

NYSE:ALG traded up $0.83 during mid-day trading on Tuesday, hitting $194.10. 971 shares of the company’s stock were exchanged, compared to its average volume of 72,932. The company has a market cap of $2.34 billion, a PE ratio of 17.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.29 and a quick ratio of 2.49. Alamo Group Inc. has a one year low of $157.74 and a one year high of $231.40. The business has a fifty day moving average price of $180.46 and a 200 day moving average price of $198.49.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.01. The firm 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 prior year, the firm earned $2.79 earnings per share. Equities analysts predict that Alamo Group Inc. will post 12.3 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Alamo Group’s dividend payout ratio is currently 9.25%.

Alamo Group Profile

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.