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

Alamo Group (NYSE:ALG) announced its quarterly earnings results on Monday. The industrial products company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08, FiscalAI reports. Alamo Group had a net margin of 6.08% and a return on equity of 9.90%. The firm had revenue of $450.73 million during the quarter, compared to the consensus estimate of $437.48 million.

Alamo Group Trading Down 1.0%

Shares of NYSE ALG traded down $1.62 during trading hours on Wednesday, reaching $168.71. The stock had a trading volume of 17,666 shares, compared to its average volume of 156,369. The business’s fifty day moving average price is $160.22 and its two-hundred day moving average price is $172.71. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 0.96 and a beta of 1.10. Alamo Group has a 52-week low of $145.76 and a 52-week 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.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were paid 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 of this dividend was Thursday, July 16th. Alamo Group’s payout ratio is currently 16.27%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Alamo Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in Alamo Group during the 4th quarter valued at about $254,000. Mariner LLC boosted its stake in shares of Alamo Group by 13.3% during the fourth quarter. Mariner LLC now owns 1,512 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 178 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Alamo Group during the fourth quarter valued at approximately $247,000. Bank of Montreal Can bought a new position in Alamo Group in the fourth quarter worth approximately $243,000. Finally, Evergreen Capital Management LLC bought a new position in Alamo Group in the second quarter worth approximately $225,000. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

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.