Illinois Municipal Retirement Fund Has $1.34 Million Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Illinois Municipal Retirement Fund reduced its position in shares of Alamo Group Inc. (NYSE:ALG) by 2.3% during the first quarter, Holdings Channel reports. The institutional investor owned 5,878 shares of the industrial products company’s stock after selling 140 shares during the period. Illinois Municipal Retirement Fund’s holdings in Alamo Group were worth $1,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Contravisory Investment Management Inc. boosted its stake in shares of Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares in the last quarter. Quest Partners LLC bought a new position in shares of Alamo Group during the fourth quarter valued at $52,000. Duncker Streett & Co. Inc. purchased a new stake in Alamo Group during the 1st quarter valued at $82,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Alamo Group during the fourth quarter valued at approximately $208,000. Finally, FCA Corp TX purchased a new position in Alamo Group in the fourth quarter worth about $210,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Trading Up 0.1 %

ALG opened at $172.92 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.29 and a quick ratio of 2.49. The stock has a market capitalization of $2.08 billion, a PE ratio of 15.38 and a beta of 1.04. Alamo Group Inc. has a 12-month low of $157.74 and a 12-month high of $231.40. The firm’s fifty day moving average price is $182.62 and its 200 day moving average price is $199.84.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.66 by $0.01. The company had revenue of $425.59 million for the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same quarter in the previous year, the business posted $2.79 EPS. As a group, research analysts expect that Alamo Group Inc. will post 12.3 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, July 16th. Alamo Group’s dividend payout ratio (DPR) is 9.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALG shares. DA Davidson lowered their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 9th.

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.