Seaport Global Securities Brokers Boost Earnings Estimates for Alamo Group, Inc. (NYSE:ALG)
Alamo Group, Inc. (NYSE:ALG) – Stock analysts at Seaport Global Securities raised their Q3 2017 earnings per share estimates for Alamo Group in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will post earnings per share of $1.26 for the quarter, up from their previous estimate of $1.22. Seaport Global Securities currently has a “Neutral” rating and a $80.00 price target on the stock. Seaport Global Securities also issued estimates for Alamo Group’s Q4 2017 earnings at $0.79 EPS, FY2017 earnings at $4.15 EPS, Q1 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.36 EPS, Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $4.50 EPS and FY2019 earnings at $4.80 EPS.
Alamo Group (NYSE:ALG) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.05. The firm had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research cut shares of Alamo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $90.00 price target on shares of Alamo Group in a research report on Friday, July 14th.
Shares of Alamo Group (ALG) opened at 94.19 on Tuesday. The company’s 50-day moving average is $92.13 and its 200-day moving average is $82.20. The company has a market capitalization of $1.09 billion, a PE ratio of 24.21 and a beta of 0.95. Alamo Group has a one year low of $58.30 and a one year high of $95.62.
Large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after buying an additional 156 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Alamo Group during the fourth quarter valued at approximately $156,000. Mason Street Advisors LLC boosted its stake in shares of Alamo Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock valued at $168,000 after buying an additional 144 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Alamo Group by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 1,865 shares of the industrial products company’s stock valued at $169,000 after buying an additional 825 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Alamo Group during the first quarter valued at approximately $207,000. Institutional investors own 88.98% of the company’s stock.
In other news, VP Dan Edward Malone sold 950 shares of Alamo Group stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $90.75, for a total transaction of $86,212.50. Following the completion of the sale, the vice president now owns 11,950 shares in the company, valued at approximately $1,084,462.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David W. Grzelak sold 2,201 shares of Alamo Group stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $92.18, for a total transaction of $202,888.18. Following the sale, the director now owns 1,325 shares of the company’s stock, valued at approximately $122,138.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,235 shares of company stock valued at $379,648. 3.99% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 17th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Thursday, July 13th. Alamo Group’s dividend payout ratio is 10.28%.
About Alamo Group
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
Receive News & Ratings for Alamo Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alamo Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.