DA Davidson Comments on Alamo Group Inc.’s Q2 2024 Earnings (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Alamo Group in a report issued 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.

Separately, StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday.

Alamo Group Trading Down 0.0 %

NYSE:ALG opened at $193.99 on Wednesday. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.34 billion, a PE ratio of 17.26 and a beta of 1.07. The business’s 50 day moving average is $207.88 and its two-hundred day moving average is $200.97.

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

Alamo Group Dividend Announcement

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

Insider Buying and Selling

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 shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the transaction, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several institutional investors have recently bought and sold shares of ALG. Louisiana State Employees Retirement System bought a new position in Alamo Group during the 4th quarter valued at $1,093,000. Raymond James & Associates bought a new position in shares of Alamo Group during the 4th quarter valued at about $215,000. Aviva PLC acquired a new position in shares of Alamo Group in the 3rd quarter worth approximately $604,000. GSA Capital Partners LLP raised its holdings in shares of Alamo Group by 382.0% in the 3rd quarter. GSA Capital Partners LLP now owns 12,171 shares of the industrial products company’s stock worth $2,104,000 after purchasing an additional 9,646 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Alamo Group by 2.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 253,338 shares of the industrial products company’s stock worth $43,792,000 after buying an additional 6,215 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

About Alamo Group

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.