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State of Tennessee Treasury Department Lowers Holdings in Alamo Group Inc. (NYSE:ALG)

Defense World · Sep 3, 2022 04:41

State of Tennessee Treasury Department trimmed its position in Alamo Group Inc. (NYSE:ALG – Get Rating) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,037 shares of the industrial products company's stock after selling 1,406 shares during the quarter. State of Tennessee Treasury Department's holdings in Alamo Group were worth $724,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Laurel Wealth Planning LLC bought a new stake in shares of Alamo Group in the first quarter worth about $65,000. Pinebridge Investments L.P. bought a new stake in Alamo Group during the fourth quarter worth approximately $88,000. Inspire Investing LLC bought a new stake in Alamo Group during the first quarter worth approximately $235,000. Autumn Glory Partners LLC bought a new stake in Alamo Group during the first quarter worth approximately $275,000. Finally, Teacher Retirement System of Texas increased its stake in Alamo Group by 6.6% during the first quarter. Teacher Retirement System of Texas now owns 2,109 shares of the industrial products company's stock worth $303,000 after acquiring an additional 130 shares during the last quarter. 92.79% of the stock is owned by institutional investors.

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Alamo Group Trading Down 1.4 %

ALG opened at $128.42 on Friday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 18.27 and a beta of 0.99. The stock's 50 day moving average price is $125.81 and its 200-day moving average price is $128.89. Alamo Group Inc. has a one year low of $108.35 and a one year high of $160.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.09 and a current ratio of 3.95.

Alamo Group (NYSE:ALG – Get Rating) last released its earnings results on Wednesday, August 3rd. The industrial products company reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.06 by $0.33. Alamo Group had a return on equity of 12.03% and a net margin of 5.84%. During the same quarter in the previous year, the business earned $1.97 EPS. On average, equities analysts forecast that Alamo Group Inc. will post 8.61 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 18th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, July 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.56%. Alamo Group's dividend payout ratio is 10.24%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALG. StockNews.com raised Alamo Group from a "hold" rating to a "buy" rating in a research note on Friday, August 5th. DA Davidson boosted their price objective on Alamo Group to $136.00 in a research note on Tuesday, August 9th. Finally, TheStreet raised Alamo Group from a "c+" rating to a "b-" rating in a research note on Thursday, August 25th.

Insider Activity

In related news, EVP Richard Hodges Raborn sold 1,553 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $136.55, for a total value of $212,062.15. Following the completion of the sale, the executive vice president now owns 8,710 shares in the company, valued at $1,189,350.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert P. Bauer purchased 500 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $113.99 per share, for a total transaction of $56,995.00. Following the completion of the acquisition, the director now owns 7,561 shares of the company's stock, valued at $861,878.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Hodges Raborn sold 1,553 shares of the business's stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $136.55, for a total value of $212,062.15. Following the completion of the sale, the executive vice president now owns 8,710 shares of the company's stock, valued at approximately $1,189,350.50. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

Alamo Group Profile

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Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.