Teacher Retirement System of Texas Sells 2,421 Shares of Alamo Group, Inc. $ALG

Teacher Retirement System of Texas lowered its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 7.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,313 shares of the industrial products company’s stock after selling 2,421 shares during the period. Teacher Retirement System of Texas owned approximately 0.26% of Alamo Group worth $6,838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Alamo Group by 110.6% during the 1st 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. Nisa Investment Advisors LLC lifted its stake in shares of Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 65 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Alamo Group in the 2nd quarter worth approximately $202,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

NYSE ALG opened at $176.98 on Friday. Alamo Group, Inc. has a 12 month low of $157.07 and a 12 month high of $233.29. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 0.94 and a beta of 1.08. The company’s 50 day moving average is $196.71 and its two-hundred day moving average is $202.35. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The firm had revenue of $419.07 million for the quarter, compared to the consensus estimate of $406.75 million. As a group, research analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 28th. Investors of record on Wednesday, October 15th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, October 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. Alamo Group’s dividend payout ratio is currently 12.22%.

Insider Buying and Selling at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the transaction, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird raised shares of Alamo Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from $209.00 to $260.00 in a report on Monday, August 4th. Wall Street Zen raised shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alamo Group in a report on Wednesday, October 8th. DA Davidson reaffirmed a “neutral” rating and set a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Baird R W raised shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $234.00.

Alamo Group Company 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.