Franklin Resources Inc. cut its stake in Alamo Group, Inc. (NYSE:ALG) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,912 shares of the industrial products company’s stock after selling 13,487 shares during the period. Franklin Resources Inc. owned about 3.48% of Alamo Group worth $36,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Texas Permanent School Fund raised its holdings in shares of Alamo Group by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock worth $628,000 after buying an additional 80 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Alamo Group by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the industrial products company’s stock worth $354,000 after buying an additional 100 shares in the last quarter. Mason Street Advisors LLC raised its holdings in shares of Alamo Group by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock worth $168,000 after buying an additional 144 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Alamo Group by 10.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock worth $130,000 after buying an additional 156 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Alamo Group by 1.2% in the 1st quarter. Legal & General Group Plc now owns 15,757 shares of the industrial products company’s stock worth $1,202,000 after buying an additional 184 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on ALG. Zacks Investment Research raised Alamo Group from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Tuesday, August 22nd. BidaskClub cut Alamo Group from a “hold” rating to a “sell” rating in a report on Friday, August 18th. ValuEngine raised Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Piper Jaffray Companies set a $104.00 price target on Alamo Group and gave the company a “buy” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Alamo Group currently has a consensus rating of “Hold” and a consensus price target of $96.67.

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In other Alamo Group news, EVP Richard Hodges Raborn sold 364 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the transaction, the executive vice president now directly owns 4,500 shares in the company, valued at $414,855. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David W. Grzelak sold 2,201 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the transaction, the director now owns 1,325 shares of the company’s stock, valued at $122,138.50. The disclosure for this sale can be found here. 3.99% of the stock is owned by insiders.

Shares of Alamo Group, Inc. (NYSE:ALG) opened at 96.96 on Friday. Alamo Group, Inc. has a 12-month low of $58.30 and a 12-month high of $96.97. The company’s 50-day moving average price is $91.42 and its 200-day moving average price is $85.17. The firm has a market capitalization of $1.13 billion, a PE ratio of 24.93 and a beta of 0.96.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.05. The business had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. Analysts anticipate that Alamo Group, Inc. will post $4.21 EPS for the current year.

About Alamo Group

Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.

Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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