Alamo Group, Inc. $ALG Shares Purchased 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, according to the company in its most recent 13F filing with the SEC. The fund owned 42,083 shares of the industrial products company’s stock after purchasing an additional 6,675 shares during the quarter. Public Sector Pension Investment Board owned about 0.35% of Alamo Group worth $8,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALG. Illinois Municipal Retirement Fund grew its holdings in shares of Alamo Group by 7.0% during the third quarter. Illinois Municipal Retirement Fund now owns 5,586 shares of the industrial products company’s stock worth $1,066,000 after buying an additional 364 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Alamo Group in the third quarter valued at approximately $261,000. ProShare Advisors LLC grew its holdings in Alamo Group by 3.1% in the 3rd quarter. ProShare Advisors LLC now owns 31,673 shares of the industrial products company’s stock valued at $6,046,000 after buying an additional 950 shares in the last quarter. Azzad Asset Management Inc. ADV increased its stake in shares of Alamo Group by 12.3% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 6,233 shares of the industrial products company’s stock worth $1,190,000 after acquiring an additional 685 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Alamo Group by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 60,764 shares of the industrial products company’s stock worth $11,600,000 after acquiring an additional 2,429 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO Robert Paul Hureau bought 304 shares of the stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average price of $163.48 per share, with a total value of $49,697.92. Following the completion of the acquisition, the chief executive officer directly owned 12,046 shares in the company, valued at approximately $1,969,280.08. The trade was a 2.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Alamo Group Stock Down 0.9%

Alamo Group stock opened at $208.94 on Wednesday. The stock has a market cap of $2.53 billion, a PE ratio of 21.67, a P/E/G ratio of 1.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.43 and a quick ratio of 2.72. The stock’s fifty day moving average is $187.59 and its two-hundred day moving average is $189.91. Alamo Group, Inc. has a 1-year low of $156.29 and a 1-year high of $233.29.

Alamo Group Increases Dividend

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

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.