Public Sector Pension Investment Board Sells 800 Shares of Alamo Group Inc. (NYSE:ALG)

Public Sector Pension Investment Board lessened its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,962 shares of the industrial products company’s stock after selling 800 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.18% of Alamo Group worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ALG. Nisa Investment Advisors LLC lifted its position in Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors bought a new position in shares of Alamo Group in the third quarter worth about $37,000. First Horizon Advisors Inc. lifted its position in shares of Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after buying an additional 159 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Alamo Group during the 2nd quarter valued at approximately $48,000. Finally, Quarry LP purchased a new stake in Alamo Group in the 2nd quarter worth approximately $48,000. Institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling at Alamo Group

In other news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the transaction, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALG. Robert W. Baird upped their price target on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. DA Davidson increased their price target on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Trading Up 1.0 %

Shares of ALG opened at $201.97 on Tuesday. The firm has a market cap of $2.44 billion, a P/E ratio of 20.34 and a beta of 1.08. 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 Inc. has a 1 year low of $163.74 and a 1 year high of $231.40. The company has a 50 day simple moving average of $184.03 and a two-hundred day simple moving average of $181.30.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.51%. Alamo Group’s payout ratio is 10.47%.

Alamo Group Company 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.