According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “
Separately, Piper Jaffray Cos. reissued an overweight rating and issued a $70.00 price objective (up previously from $68.00) on shares of Alamo Group in a research note on Wednesday, August 10th.
Alamo Group (NYSE:ALG) traded down 0.18% during trading on Monday, reaching $65.90. The company had a trading volume of 3,552 shares. The stock has a 50 day moving average price of $64.94 and a 200 day moving average price of $61.87. The firm has a market capitalization of $757.72 million, a price-to-earnings ratio of 16.73 and a beta of 0.92. Alamo Group has a 12 month low of $43.98 and a 12 month high of $68.04.
Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, August 4th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.01 by $0.09. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $219.74 million. Alamo Group had a net margin of 5.16% and a return on equity of 12.34%. On average, equities research analysts predict that Alamo Group will post $3.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, October 12th. Alamo Group’s dividend payout ratio is presently 9.14%.
In other news, VP Richard J. Wehrle sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $63.59, for a total value of $158,975.00. Following the sale, the vice president now owns 11,649 shares of the company’s stock, valued at approximately $740,759.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.63% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Alamo Group during the second quarter worth about $108,000. Mason Street Advisors LLC bought a new position in shares of Alamo Group during the second quarter worth about $121,000. BNP Paribas Arbitrage SA bought a new position in shares of Alamo Group during the second quarter worth about $193,000. Commerce Bank bought a new position in shares of Alamo Group during the second quarter worth about $201,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Alamo Group during the second quarter worth about $237,000. Institutional investors and hedge funds own 92.77% of the company’s stock.
About Alamo Group
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. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
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