Teacher Retirement System of Texas bought a new stake in shares of Alamo Group, Inc. (NYSE:ALG) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,404 shares of the industrial products company’s stock, valued at approximately $384,000.
Several other institutional investors have also modified their holdings of ALG. Crossmark Global Holdings Inc. acquired a new stake in shares of Alamo Group during the 3rd quarter valued at about $210,000. American Century Companies Inc. boosted its position in shares of Alamo Group by 226.2% during the 3rd quarter. American Century Companies Inc. now owns 73,931 shares of the industrial products company’s stock valued at $7,938,000 after acquiring an additional 51,270 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Alamo Group by 70.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,754 shares of the industrial products company’s stock valued at $510,000 after acquiring an additional 1,965 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Alamo Group by 11.5% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,760 shares of the industrial products company’s stock valued at $1,370,000 after acquiring an additional 1,320 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Alamo Group by 6.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,497 shares of the industrial products company’s stock valued at $1,557,000 after acquiring an additional 932 shares in the last quarter. Institutional investors and hedge funds own 91.42% of the company’s stock.
In other Alamo Group news, VP Dan Edward Malone sold 900 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $114.39, for a total value of $102,951.00. Following the transaction, the vice president now directly owns 11,150 shares in the company, valued at $1,275,448.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.99% of the stock is owned by insiders.
A number of research firms have commented on ALG. ValuEngine upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $105.00.
Alamo Group stock opened at $116.66 on Monday. The company has a market cap of $1,358.96, a PE ratio of 25.36 and a beta of 0.94. Alamo Group, Inc. has a 12-month low of $71.67 and a 12-month high of $120.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.87 and a quick ratio of 2.34.
Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, March 1st. The industrial products company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The firm had revenue of $243.26 million for the quarter, compared to analyst estimates of $229.40 million. Alamo Group had a net margin of 4.86% and a return on equity of 12.49%. equities research analysts predict that Alamo Group, Inc. will post 5.37 EPS for the current year.
WARNING: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://ledgergazette.com/2018/03/19/teacher-retirement-system-of-texas-buys-new-stake-in-alamo-group-inc-alg.html.
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.
Receive News & Ratings for Alamo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alamo Group and related companies with MarketBeat.com's FREE daily email newsletter.