Public Employees Retirement System of Ohio Acquires New Stake in Alamo Group, Inc. $ALG

Key Points

• Public Employees Retirement System of Ohio acquired 9,752 Alamo Group shares worth approximately $1.6 million, joining other institutions that have increased their holdings. Institutional investors and hedge funds now own 92.36% of the company.
• Alamo Group reported quarterly earnings of $2.82 per share, exceeding the $2.74 consensus estimate, while revenue of $450.73 million also topped expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $188.
• ALG shares opened at $173.32, near the midpoint of their 12-month range, and the company declared a quarterly dividend of $0.34 per share, equivalent to a 0.8% annualized yield.

Public Employees Retirement System of Ohio bought a new position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,752 shares of the industrial products company's stock, valued at approximately $1,604,000. Public Employees Retirement System of Ohio owned approximately 0.08% of Alamo Group at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Alamo Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company's stock worth $1,084,000 after acquiring an additional 251 shares during the period. Millennium Management LLC lifted its holdings in Alamo Group by 164.7% in the 1st quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company's stock valued at $11,332,000 after acquiring an additional 39,564 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alamo Group by 12.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company's stock valued at $6,444,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Alamo Group by 83.7% during the 2nd quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company's stock valued at $16,899,000 after purchasing an additional 35,248 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Trading Down 0.1%

Shares of NYSE ALG opened at $173.32 on Tuesday. Alamo Group, Inc. has a 12 month low of $145.76 and a 12 month high of $219.88. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.03 and a beta of 1.09. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $164.95 and a 200-day simple moving average of $167.10.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $0.08. The business had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. Sell-side analysts predict that Alamo Group, Inc. will post 10.56 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group's dividend payout ratio is currently 16.31%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of Alamo Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. DA Davidson restated a "neutral" rating and set a $188.00 target price on shares of Alamo Group in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $188.00.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the transaction, the executive vice president directly owned 8,142 shares in the company, valued at $1,338,626.22. This trade represents a 25.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.06% of the stock is currently owned by insiders.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.

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