Teacher Retirement System of Texas Increases Holdings in Alamo Group Inc. (NYSE:ALG)

Teacher Retirement System of Texas raised its holdings in Alamo Group Inc. (NYSE:ALG) by 32.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,408 shares of the industrial products company’s stock after purchasing an additional 9,087 shares during the period. Teacher Retirement System of Texas’ holdings in Alamo Group were worth $6,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 168 shares during the period. KBC Group NV raised its position in Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 189 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Alamo Group by 192.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 534 shares during the period. Raymond James Financial Inc. purchased a new stake in Alamo Group in the fourth quarter valued at $200,000. Finally, Choreo LLC purchased a new stake in Alamo Group in the fourth quarter valued at $201,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

ALG has been the topic of a number of research analyst reports. 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 cut Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $224.00 to $177.00 in a research note on Friday, February 28th. DA Davidson dropped their price objective on Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a research note on Monday, March 3rd.

Alamo Group Trading Down 2.3 %

Shares of NYSE ALG opened at $183.97 on Monday. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $228.88. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $184.30 and a 200-day simple moving average of $184.44. The stock has a market capitalization of $2.22 billion, a PE ratio of 18.53 and a beta of 1.10.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping 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 firm had revenue of $385.32 million during the quarter, compared to analysts’ expectations of $396.85 million. On average, equities analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.65%. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group’s payout ratio 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.