Alamo Group, Inc. $ALG Position Raised by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board increased its stake in Alamo Group, Inc. by 27.0%, owning approximately 32,880 shares worth $5.86 million as of its latest SEC filing.
• Alamo Group's stock performance includes a recent earnings report with $2.57 earnings per share, missing analysts' estimates, while revenue was $419.07 million, surpassing expectations.
• The company declared a quarterly dividend of $0.30 per share, resulting in an annualized dividend of $1.20 and a dividend yield of 0.5%.

Public Sector Pension Investment Board raised its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,880 shares of the industrial products company's stock after acquiring an additional 6,993 shares during the period. Public Sector Pension Investment Board owned approximately 0.27% of Alamo Group worth $5,860,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System raised its stake in shares of Alamo Group by 4.1% during the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock worth $448,000 after buying an additional 100 shares in the last quarter. Principal Financial Group Inc. increased its stake in Alamo Group by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 58,673 shares of the industrial products company's stock valued at $10,456,000 after purchasing an additional 1,737 shares in the last quarter. GAMMA Investing LLC increased its stake in Alamo Group by 110.6% in the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Alamo Group by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company's stock valued at $125,732,000 after buying an additional 26,835 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Alamo Group by 2.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 47,945 shares of the industrial products company's stock valued at $8,544,000 after buying an additional 1,210 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALG. Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Finally, DA Davidson reissued a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Alamo Group presently has a consensus rating of "Buy" and an average price target of $234.00.

Alamo Group Stock Performance

ALG stock traded down $2.1120 during midday trading on Thursday, reaching $212.2980. The company had a trading volume of 81,784 shares, compared to its average volume of 83,822. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $220.33 and a 200 day moving average price of $196.86. The firm has a market capitalization of $2.57 billion, a PE ratio of 21.62, a P/E/G ratio of 1.12 and a beta of 1.10. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.12). The business had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. Analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, July 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Alamo Group's payout ratio is currently 12.22%.

About Alamo Group

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.