California Public Employees Retirement System Cuts Holdings in Alamo Group, Inc. (ALG)

California Public Employees Retirement System cut its position in shares of Alamo Group, Inc. (NYSE:ALG) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,630 shares of the industrial products company’s stock after selling 3,294 shares during the quarter. California Public Employees Retirement System’s holdings in Alamo Group were worth $1,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc. grew its holdings in shares of Alamo Group by 374.1% during the second quarter. TD Asset Management Inc. now owns 34,137 shares of the industrial products company’s stock worth $3,085,000 after buying an additional 26,937 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Alamo Group during the second quarter worth about $166,000. Prescott Group Capital Management L.L.C. grew its holdings in shares of Alamo Group by 31.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 12,661 shares of the industrial products company’s stock worth $1,144,000 after buying an additional 3,000 shares in the last quarter. Legal & General Group Plc grew its holdings in Alamo Group by 5.7% in the second quarter. Legal & General Group Plc now owns 18,896 shares of the industrial products company’s stock valued at $1,698,000 after purchasing an additional 1,020 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Alamo Group by 17.4% in the second quarter. PNC Financial Services Group Inc. now owns 231,476 shares of the industrial products company’s stock valued at $20,918,000 after purchasing an additional 34,390 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

ALG has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Alamo Group from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Tuesday, August 7th. Finally, Sidoti upgraded shares of Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 target price for the company in a report on Wednesday, October 24th.

Alamo Group stock opened at $85.72 on Thursday. Alamo Group, Inc. has a 1 year low of $79.85 and a 1 year high of $120.58. The company has a market capitalization of $957.09 million, a P/E ratio of 18.73 and a beta of 0.95. The company has a quick ratio of 2.92, a current ratio of 4.66 and a debt-to-equity ratio of 0.25.

Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, August 1st. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.16. Alamo Group had a net margin of 5.43% and a return on equity of 13.31%. The firm had revenue of $257.13 million during the quarter, compared to the consensus estimate of $237.40 million.

The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Monday, October 15th were issued a $0.11 dividend. The ex-dividend date was Friday, October 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.51%. Alamo Group’s payout ratio is 9.50%.

In other Alamo Group news, VP Dan Edward Malone sold 1,964 shares of Alamo Group stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $96.13, for a total transaction of $188,799.32. Following the transaction, the vice president now directly owns 11,225 shares of the company’s stock, valued at $1,079,059.25. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard J. Wehrle sold 6,000 shares of Alamo Group stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $95.05, for a total transaction of $570,300.00. Following the transaction, the vice president now directly owns 16,404 shares in the company, valued at $1,559,200.20. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by insiders.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.

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

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