Public Employees Retirement System of Ohio Makes New $6.58 Million Investment in Alamo Group Inc. (NYSE:ALG)

Public Employees Retirement System of Ohio bought a new position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,399 shares of the industrial products company's stock, valued at approximately $6,581,000. Public Employees Retirement System of Ohio owned 0.29% of Alamo Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock valued at $38,000 after buying an additional 168 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Alamo Group during the 4th quarter valued at $79,000. KBC Group NV boosted its stake in Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 189 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Alamo Group by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after purchasing an additional 69 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Alamo Group in the 4th quarter worth $200,000. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Trading Down 1.8%

Shares of ALG stock traded down $3.58 during trading hours on Friday, reaching $198.22. 61,652 shares of the stock were exchanged, compared to its average volume of 95,035. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 19.96 and a beta of 1.02. Alamo Group Inc. has a 12-month low of $157.07 and a 12-month high of $205.62. The company's 50-day moving average price is $180.01 and its 200-day moving average price is $184.98. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG - Get Free Report) last released its earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The firm had revenue of $390.95 million for the quarter, compared to analysts' expectations of $391.08 million. As a group, equities analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's dividend payout ratio is currently 12.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ALG shares. DA Davidson dropped their price target on Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Baird R W downgraded Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a report on Monday, March 3rd. Finally, Robert W. Baird cut Alamo Group from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $224.00 to $177.00 in a report on Friday, February 28th.

Insider Buying and Selling

In related news, EVP Richard Hodges Raborn sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the completion of the sale, the executive vice president now owns 12,948 shares in the company, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the completion of the sale, the chief executive officer now owns 40,913 shares of the company's stock, valued at $8,244,787.76. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

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.