Alamo Group (NYSE:ALG) Issues Quarterly Earnings Results

Alamo Group (NYSE:ALG) posted its earnings results on Monday. The industrial products company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36), FiscalAI reports. Alamo Group had a net margin of 6.47% and a return on equity of 10.15%. The business had revenue of $373.65 million during the quarter, compared to analysts’ expectations of $405.18 million.

Alamo Group Price Performance

Shares of ALG opened at $184.82 on Wednesday. The company has a market cap of $2.24 billion, a P/E ratio of 21.52, a PEG ratio of 1.22 and a beta of 1.11. Alamo Group has a fifty-two week low of $156.29 and a fifty-two week high of $233.29. The company has a quick ratio of 2.72, a current ratio of 4.43 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average price is $194.79 and its 200 day moving average price is $188.85.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s payout ratio is currently 14.11%.

Analyst Ratings Changes

ALG has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. DA Davidson dropped their price target on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Institutional Trading of Alamo Group

A number of large investors have recently modified their holdings of the stock. Brevan Howard Capital Management LP increased its holdings in Alamo Group by 69.8% in the second quarter. Brevan Howard Capital Management LP now owns 9,094 shares of the industrial products company’s stock valued at $1,986,000 after buying an additional 3,737 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Alamo Group by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 162,959 shares of the industrial products company’s stock valued at $35,587,000 after acquiring an additional 9,740 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Alamo Group by 1.5% during the 2nd quarter. California State Teachers Retirement System now owns 9,484 shares of the industrial products company’s stock worth $2,071,000 after acquiring an additional 140 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Alamo Group by 2,079.3% during the 2nd quarter. Raymond James Financial Inc. now owns 27,089 shares of the industrial products company’s stock worth $5,916,000 after acquiring an additional 25,846 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Alamo Group by 67.3% during the second quarter. Quantinno Capital Management LP now owns 2,486 shares of the industrial products company’s stock worth $543,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Company Profile

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.