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

Public Employees Retirement System of Ohio cut its position in Alamo Group, Inc. (NYSE:ALG) by 16.7% in the first quarter, according to its most recent Form 13F filing with the 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’s holdings in Alamo Group were worth $2,903,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALG. Global Retirement Partners LLC grew its position in shares of Alamo Group by 136.2% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after buying an additional 177 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 314 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Alamo Group during the fourth quarter valued at approximately $76,000. State of Wyoming lifted its position in Alamo Group by 76.5% during the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 205 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Alamo Group by 861.5% in the fourth quarter. Hantz Financial Services Inc. now owns 500 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 448 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Stock Up 0.8%

Alamo Group stock 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 business’s 50-day simple moving average is $159.62 and its two-hundred day simple moving average is $173.13. The company has a market cap of $1.94 billion, a PE ratio of 19.03, a PEG ratio of 0.93 and a beta of 1.09. Alamo Group, Inc. has a fifty-two week low of $145.76 and a fifty-two week high of $233.29.

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

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were given a $0.34 dividend. The ex-dividend date was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Alamo Group’s dividend payout ratio is currently 16.27%.

Analysts Set New Price Targets

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

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.