Alamo Group (NYSE:ALG) Issues Earnings Results

by · The Markets Daily

Alamo Group (NYSE:ALG – Get Free Report) issued its earnings results on Thursday. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($0.27), FiscalAI reports. The business had revenue of $420.04 million during the quarter, compared to the consensus estimate of $407.55 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%.

Alamo Group Trading Down 2.5%

ALG stock traded down $4.49 during midday trading on Thursday, hitting $172.73. 108,372 shares of the company’s stock were exchanged, compared to its average volume of 104,240. The stock’s fifty day moving average price is $193.35 and its 200-day moving average price is $202.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The company has a market cap of $2.09 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. Alamo Group has a one year low of $157.07 and a one year high of $233.29.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 28th. Shareholders of record on Wednesday, October 15th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, October 15th. This represents a $1.20 annualized dividend and a yield of 0.7%. Alamo Group’s payout ratio is currently 12.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALG shares. Robert W. Baird raised shares of Alamo Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Wall Street Zen upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Baird R W upgraded Alamo Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Alamo Group in a research report on Wednesday, October 8th. Finally, DA Davidson restated a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $234.00.

Get Our Latest Research Report on Alamo Group

Insiders Place Their Bets

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the transaction, the chief executive officer directly owned 38,413 shares in the company, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its stake in shares of Alamo Group by 4.5% in the 2nd quarter. Captrust Financial Advisors now owns 3,215 shares of the industrial products company’s stock valued at $702,000 after purchasing an additional 138 shares during the period. Tidal Investments LLC raised its stake in shares of Alamo Group by 8.8% in the 2nd quarter. Tidal Investments LLC now owns 2,694 shares of the industrial products company’s stock valued at $588,000 after purchasing an additional 219 shares during the period. Lazard Asset Management LLC raised its stake in shares of Alamo Group by 1,660.2% in the 2nd quarter. Lazard Asset Management LLC now owns 6,759 shares of the industrial products company’s stock valued at $1,476,000 after purchasing an additional 6,375 shares during the period. Holocene Advisors LP raised its stake in shares of Alamo Group by 4.7% in the 2nd quarter. Holocene Advisors LP now owns 7,597 shares of the industrial products company’s stock valued at $1,659,000 after purchasing an additional 339 shares during the period. Finally, Engineers Gate Manager LP raised its stake in shares of Alamo Group by 93.4% in the 2nd quarter. Engineers Gate Manager LP now owns 8,052 shares of the industrial products company’s stock valued at $1,758,000 after purchasing an additional 3,889 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Company Profile

(Get Free Report)

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.

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