Public Employees Retirement System of Ohio Trims Position in Alamo Group, Inc. $ALG

Public Employees Retirement System of Ohio decreased its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 16.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,597 shares of the industrial products company’s stock after selling 3,528 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.14% of Alamo Group worth $2,903,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ALG. Inceptionr LLC purchased a new stake in Alamo Group in the 1st quarter valued at about $668,000. Sei Investments Co. raised its stake in shares of Alamo Group by 47.3% during the first quarter. Sei Investments Co. now owns 49,937 shares of the industrial products company’s stock valued at $8,236,000 after acquiring an additional 16,034 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Alamo Group by 72.9% in the first quarter. Cetera Investment Advisers now owns 3,278 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 1,382 shares during the period. First Trust Advisors LP grew its stake in Alamo Group by 5.4% in the first quarter. First Trust Advisors LP now owns 469,289 shares of the industrial products company’s stock worth $77,419,000 after purchasing an additional 24,184 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Alamo Group by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,633 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 101 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALG has been the subject of a number of research analyst reports. Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, DA Davidson reissued a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alamo Group has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Alamo Group Price Performance

Shares of ALG opened at $159.13 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. The company has a 50 day moving average price of $159.62 and a 200-day moving average price of $173.13. Alamo Group, Inc. has a fifty-two week low of $145.76 and a fifty-two week high of $233.29. The stock has a market capitalization of $1.94 billion, a PE ratio of 19.03, a PEG ratio of 0.93 and a beta of 1.09.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.36. The company had revenue of $417.15 million for the quarter, compared to analyst estimates of $398.02 million. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. Equities analysts predict that Alamo Group, Inc. will post 10.65 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group’s dividend payout ratio (DPR) is 16.27%.

About Alamo Group

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.