Alamo Group Inc. (NYSE:ALG – Free Report) – Analysts at DA Davidson boosted their FY2023 earnings per share (EPS) estimates for Alamo Group in a research note issued on Tuesday, November 7th. DA Davidson analyst M. Shlisky now forecasts that the industrial products company will post earnings of $11.59 per share for the year, up from their prior forecast of $11.04. The consensus estimate for Alamo Group’s current full-year earnings is $11.04 per share. DA Davidson also issued estimates for Alamo Group’s Q4 2023 earnings at $2.85 EPS.
Several other equities research analysts also recently issued reports on the company. Robert W. Baird assumed coverage on Alamo Group in a report on Thursday, August 31st. They issued an “outperform” rating and a $201.00 price target for the company. Raymond James decreased their price objective on Alamo Group from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Finally, StockNews.com assumed coverage on Alamo Group in a report on Thursday, October 5th. They set a “buy” rating for the company.
Alamo Group Stock Up 0.1 %
Shares of Alamo Group stock opened at $181.65 on Wednesday. Alamo Group has a 12 month low of $137.47 and a 12 month high of $200.81. The company has a quick ratio of 2.29, a current ratio of 3.98 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.18 billion, a PE ratio of 17.37 and a beta of 1.02. The business has a fifty day simple moving average of $170.68 and a 200 day simple moving average of $177.30.
Alamo Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.48%. Alamo Group’s payout ratio is 8.45%.
In related news, CEO Jeffery Allen Leonard sold 583 shares of Alamo Group stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $172.81, for a total transaction of $100,748.23. Following the completion of the sale, the chief executive officer now directly owns 29,363 shares of the company’s stock, valued at approximately $5,074,220.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.
Hedge Funds Weigh In On Alamo Group
A number of hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of Alamo Group in the 2nd quarter valued at $7,558,000. ClariVest Asset Management LLC lifted its holdings in Alamo Group by 63.2% during the 1st quarter. ClariVest Asset Management LLC now owns 7,778 shares of the industrial products company’s stock worth $1,433,000 after buying an additional 3,013 shares during the period. Neumeier Poma Investment Counsel LLC lifted its holdings in Alamo Group by 32.5% during the 1st quarter. Neumeier Poma Investment Counsel LLC now owns 183,771 shares of the industrial products company’s stock worth $33,843,000 after buying an additional 45,075 shares during the period. Caprock Group LLC acquired a new position in Alamo Group during the 1st quarter worth about $271,000. Finally, Financial Planning & Information Services Inc. acquired a new position in Alamo Group during the 1st quarter worth about $222,000. Institutional investors own 91.15% 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.
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