Alamo Group (NYSE:ALG) Announces Earnings Results

Alamo Group (NYSE:ALG) released its earnings results on Monday. The industrial products company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36, FiscalAI reports. Alamo Group had a return on equity of 10.04% and a net margin of 6.47%.The business had revenue of $417.15 million for the quarter, compared to analyst estimates of $398.02 million.

Alamo Group Stock Down 2.1%

ALG stock traded down $3.59 during trading on Monday, reaching $167.76. 132,969 shares of the company traded hands, compared to its average volume of 139,858. Alamo Group has a 12 month low of $156.29 and a 12 month high of $233.29. The business has a 50 day simple moving average of $176.78 and a 200 day simple moving average of $179.33. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.82 and a current ratio of 4.57.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is presently 15.83%.

Insider Activity at Alamo Group

In related news, CEO Robert Paul Hureau acquired 460 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $164.40 per share, with a total value of $75,624.00. Following the completion of the transaction, the chief executive officer directly owned 12,506 shares in the company, valued at $2,055,986.40. This trade represents a 3.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward Rizzuti sold 600 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total value of $102,558.00. Following the sale, the executive vice president directly owned 10,857 shares in the company, valued at approximately $1,855,787.01. The trade was a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alamo Group

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its holdings in Alamo Group by 136.2% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 177 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Alamo Group in the second quarter worth about $87,000. Kestra Advisory Services LLC acquired a new stake in Alamo Group in the fourth quarter worth about $76,000. Finally, Globeflex Capital L P acquired a new stake in Alamo Group in the second quarter worth about $100,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

ALG has been the topic of a number of recent analyst reports. Zacks Research lowered Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research note on Friday, March 27th. William Blair initiated coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating on the stock. Finally, DA Davidson reiterated a “neutral” rating and issued a $190.00 target price on shares of Alamo Group in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.00.

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.