Brokers Set Expectations for Alamo Group Inc.’s Q2 2024 Earnings (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for Alamo Group in a note issued to investors on Tuesday, May 7th. DA Davidson analyst M. Shlisky forecasts that the industrial products company will earn $2.79 per share for the quarter. DA Davidson has a “Buy” rating and a $225.00 price objective on the stock. The consensus estimate for Alamo Group’s current full-year earnings is $13.17 per share. DA Davidson also issued estimates for Alamo Group’s FY2024 earnings at $12.30 EPS and FY2025 earnings at $13.53 EPS.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. The company had revenue of $425.59 million during the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same period last year, the business earned $2.79 EPS.

Separately, StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday.

Alamo Group Trading Up 0.5 %

NYSE ALG opened at $194.12 on Wednesday. The stock’s fifty day moving average price is $208.06 and its 200-day moving average price is $201.02. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.34 billion, a P/E ratio of 17.27 and a beta of 1.07. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, April 15th. This represents a $1.04 annualized dividend and a yield of 0.54%. Alamo Group’s dividend payout ratio is 9.25%.

Insiders Place Their Bets

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALG. Contravisory Investment Management Inc. grew its stake in shares of Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the period. Shaker Investments LLC OH boosted its holdings in shares of Alamo Group by 1.5% in the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock worth $911,000 after buying an additional 58 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Alamo Group by 0.8% during the third quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock valued at $1,592,000 after buying an additional 72 shares during the period. Diversified Trust Co raised its position in Alamo Group by 5.2% in the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 72 shares during the period. Finally, Private Advisory Group LLC boosted its stake in shares of Alamo Group by 2.6% during the 3rd quarter. Private Advisory Group LLC now owns 3,165 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 79 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 designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.