Alamo Group, Inc. $ALG Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in Alamo Group, Inc. (NYSE:ALG) by 18.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 42,083 shares of the industrial products company’s stock after buying an additional 6,675 shares during the period. Public Sector Pension Investment Board’s holdings in Alamo Group were worth $8,034,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after buying an additional 314 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alamo Group in the second quarter valued at approximately $87,000. Globeflex Capital L P acquired a new stake in shares of Alamo Group in the second quarter valued at approximately $100,000. Tower Research Capital LLC TRC raised its position in shares of Alamo Group by 152.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 858 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 518 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Alamo Group in the 2nd quarter valued at approximately $218,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALG shares. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. Wall Street Zen lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. DA Davidson lowered their price objective on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.33.

Insider Activity

In other Alamo Group news, CEO Robert Paul Hureau bought 304 shares of Alamo Group stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average price of $163.48 per share, for a total transaction of $49,697.92. Following the acquisition, the chief executive officer owned 12,046 shares of the company’s stock, valued at $1,969,280.08. The trade was a 2.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.18% of the stock is owned by insiders.

Alamo Group Price Performance

ALG stock opened at $208.94 on Wednesday. The company has a market cap of $2.53 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company has a current ratio of 4.43, a quick ratio of 2.72 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $187.59 and a two-hundred day moving average price of $189.91. Alamo Group, Inc. has a 12-month low of $156.29 and a 12-month high of $233.29.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 16th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s dividend payout ratio is presently 14.11%.

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.