Teacher Retirement System of Texas Has $6.01 Million Stock Holdings in Alamo Group, Inc. (NYSE:ALG)

Teacher Retirement System of Texas lowered its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,734 shares of the industrial products company's stock after selling 3,674 shares during the quarter. Teacher Retirement System of Texas owned 0.28% of Alamo Group worth $6,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALG. Parallel Advisors LLC grew its stake in shares of Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 72 shares during the period. Smartleaf Asset Management LLC grew its position in Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 168 shares during the period. GAMMA Investing LLC grew its position in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 125 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Alamo Group in the 4th quarter worth about $79,000. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Alamo Group by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock worth $199,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 92.36% of the company's stock.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction on Wednesday, May 14th. The shares were 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 owned 12,948 shares in the company, valued at $2,613,424.32. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the sale, the chief executive officer owned 40,913 shares of the company's stock, valued at approximately $8,244,787.76. This represents 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.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALG shares. DA Davidson decreased their price objective on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th.

Alamo Group Trading Up 0.6%

Shares of NYSE ALG traded up $1.26 during midday trading on Thursday, hitting $226.89. The stock had a trading volume of 82,719 shares, compared to its average volume of 117,620. The company's 50-day simple moving average is $205.48 and its 200 day simple moving average is $188.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.30 and a quick ratio of 2.62. The firm has a market cap of $2.74 billion, a P/E ratio of 23.63 and a beta of 1.08. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $230.16.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.33 by $0.32. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. The company had revenue of $390.95 million during the quarter, compared to analysts' expectations of $391.08 million. Research analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, July 16th. Alamo Group's dividend payout ratio (DPR) is 12.50%.

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.