Alamo Group (NYSE:ALG) Announces Earnings Results, Beats Estimates By $0.08 EPS

Alamo Group (NYSE:ALGGet Free Report) posted its quarterly earnings data on Monday. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08, FiscalAI reports. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. The firm had revenue of $450.73 million during the quarter, compared to the consensus estimate of $437.48 million.

Alamo Group Stock Performance

NYSE:ALG opened at $163.90 on Tuesday. The stock’s 50-day moving average is $159.89 and its 200-day moving average is $172.86. Alamo Group has a 1-year low of $145.76 and a 1-year high of $233.29. The company has a current ratio of 4.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.99 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, July 16th. Alamo Group’s payout ratio is 16.27%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALG shares. DA Davidson reaffirmed a “neutral” rating and issued a $188.00 price objective on shares of Alamo Group in a report on Wednesday, July 1st. Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Alamo Group currently has a consensus rating of “Moderate Buy” and an average price target of $188.00.

Read Our Latest Stock Analysis on ALG

Hedge Funds Weigh In On Alamo Group

Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC raised its position in Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after buying an additional 314 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Alamo Group in the 4th quarter valued at about $76,000. State of Wyoming increased its stake in shares of Alamo Group by 76.5% in the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock valued at $79,000 after buying an additional 205 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alamo Group in the second quarter valued at about $87,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Company Profile

(Get Free Report)

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.

See Also

Earnings History for Alamo Group (NYSE:ALG)

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