Alamo Group Inc. (NYSE:ALG) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Alamo Group Inc. (NYSE:ALG) by 32.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,408 shares of the industrial products company’s stock after acquiring an additional 9,087 shares during the period. Teacher Retirement System of Texas owned about 0.31% of Alamo Group worth $6,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Intech Investment Management LLC grew its holdings in Alamo Group by 63.9% during the fourth quarter. Intech Investment Management LLC now owns 4,405 shares of the industrial products company’s stock worth $819,000 after acquiring an additional 1,718 shares during the period. Commonwealth Equity Services LLC acquired a new stake in Alamo Group in the fourth quarter valued at approximately $1,398,000. Swiss National Bank grew its holdings in Alamo Group by 0.5% in the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock valued at $3,737,000 after purchasing an additional 100 shares during the period. TradeLink Capital LLC acquired a new stake in Alamo Group in the fourth quarter valued at approximately $259,000. Finally, Amundi grew its holdings in Alamo Group by 186.9% in the fourth quarter. Amundi now owns 5,238 shares of the industrial products company’s stock valued at $923,000 after purchasing an additional 3,412 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. DA Davidson dropped their price objective on Alamo Group from $219.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a report on Monday, March 3rd. Baird R W downgraded Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird downgraded Alamo Group from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $224.00 to $177.00 in a research report on Friday, February 28th. Finally, StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th.

Alamo Group Stock Performance

NYSE ALG opened at $183.97 on Monday. The company has a market cap of $2.22 billion, a PE ratio of 18.53 and a beta of 1.10. The stock’s 50 day simple moving average is $184.30 and its 200-day simple moving average is $184.44. Alamo Group Inc. has a 1-year low of $163.74 and a 1-year high of $228.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.16. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The business had revenue of $385.32 million for the quarter, compared to the consensus estimate of $396.85 million. As a group, equities research analysts anticipate that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were given a dividend of $0.30 per share. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. Alamo Group’s dividend payout ratio (DPR) is presently 12.46%.

Alamo Group 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.