Alamo Group (NYSE:ALG) Posts Quarterly Earnings Results, Misses Expectations By $0.56 EPS

Alamo Group (NYSE:ALG) released its quarterly earnings data on Monday. The industrial products company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.56), FiscalAI reports. The company had revenue of $403.14 million for the quarter, compared to analyst estimates of $437.11 million. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%.

Alamo Group Stock Up 3.6%

ALG stock opened at $153.14 on Tuesday. The company has a market cap of $1.86 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.86 and a beta of 1.08. Alamo Group has a 52 week low of $142.84 and a 52 week high of $219.88. The company’s 50-day moving average price is $159.34 and its 200 day moving average price is $168.87. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Thursday, October 15th were paid a $0.34 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. Alamo Group’s dividend payout ratio (DPR) is 16.31%.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.00.

Insider Buying and Selling

In other news, EVP Edward Rizzuti sold 2,537 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $174.68, for a total value of $443,163.16. Following the sale, the executive vice president directly owned 5,605 shares in the company, valued at $979,081.40. This represents a 31.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.06% of the company’s stock.

Alamo Group Company Profile

Alamo Group Inc (NYSE: ALG) manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company’s product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.