Dimensional Fund Advisors LP cut its stake in Alamo Group, Inc. (NYSE:ALG) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 944,105 shares of the industrial products company’s stock after selling 7,740 shares during the period. Dimensional Fund Advisors LP owned 8.12% of Alamo Group worth $101,368,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pinebridge Investments L.P. raised its stake in shares of Alamo Group by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 17 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Alamo Group by 1.2% in the second quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 80 shares during the last quarter. Strs Ohio raised its stake in shares of Alamo Group by 6.1% in the second quarter. Strs Ohio now owns 3,500 shares of the industrial products company’s stock worth $317,000 after acquiring an additional 200 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Alamo Group by 2.1% in the second quarter. Advisors Asset Management Inc. now owns 13,565 shares of the industrial products company’s stock worth $1,232,000 after acquiring an additional 276 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of Alamo Group by 5.3% in the second quarter. Aperio Group LLC now owns 5,946 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 301 shares during the last quarter. 92.45% of the stock is owned by institutional investors.
ALG has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Piper Jaffray Companies set a $104.00 price target on shares of Alamo Group and gave the stock a “buy” rating in a research note on Sunday, October 1st. Finally, ValuEngine downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $105.00.
Alamo Group, Inc. (NYSE ALG) traded up $1.77 on Thursday, hitting $113.62. 85,245 shares of the company were exchanged, compared to its average volume of 58,531. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.85 and a current ratio of 4.48. The company has a market capitalization of $1,320.00, a P/E ratio of 27.25 and a beta of 0.96. Alamo Group, Inc. has a twelve month low of $70.53 and a twelve month high of $119.58.
Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.16. The business had revenue of $240.46 million during the quarter, compared to the consensus estimate of $223.40 million. Alamo Group had a net margin of 6.90% and a return on equity of 15.31%. equities analysts anticipate that Alamo Group, Inc. will post 4.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Tuesday, January 16th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, January 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.39%. This is a boost from Alamo Group’s previous quarterly dividend of $0.10. Alamo Group’s payout ratio is currently 9.59%.
In related news, EVP Richard Hodges Raborn sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $223,060.00. Following the completion of the transaction, the executive vice president now owns 4,500 shares in the company, valued at $501,885. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.99% of the stock is currently owned by insiders.
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Alamo Group Profile
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.
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