Alamo Group (NYSE:ALG) Posts Earnings Results, Beats Estimates By $0.08 EPS

Alamo Group (NYSE:ALG) posted its quarterly earnings results on Monday. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08, FiscalAI reports. The business had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%.

Alamo Group Stock Up 3.0%

NYSE:ALG traded up $4.82 during mid-day trading on Monday, reaching $163.90. The stock had a trading volume of 126,378 shares, compared to its average volume of 157,229. The stock has a market cap of $1.99 billion, a P/E ratio of 19.60, a PEG ratio of 0.93 and a beta of 1.10. The business’s 50 day moving average is $159.62 and its 200 day moving average is $173.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.32 and a quick ratio of 2.45. Alamo Group has a fifty-two week low of $145.76 and a fifty-two week high of $233.29.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were issued a $0.34 dividend. The ex-dividend date was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s dividend payout ratio is currently 16.27%.

Analyst Ratings Changes

A number of brokerages recently commented on ALG. DA Davidson reaffirmed a “neutral” rating and set a $188.00 price objective on shares of Alamo Group in a research report on Wednesday, July 1st. Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alamo Group has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Natixis Advisors LLC boosted its holdings in Alamo Group by 0.4% in the third quarter. Natixis Advisors LLC now owns 15,926 shares of the industrial products company’s stock worth $3,040,000 after purchasing an additional 61 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alamo Group by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,970 shares of the industrial products company’s stock worth $4,192,000 after buying an additional 117 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Alamo Group by 7.5% during the 4th quarter. Advisors Asset Management Inc. now owns 1,935 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 135 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Alamo Group by 4.5% during the 2nd quarter. Captrust Financial Advisors now owns 3,215 shares of the industrial products company’s stock worth $702,000 after acquiring an additional 138 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Alamo Group by 1.5% during the 2nd quarter. California State Teachers Retirement System now owns 9,484 shares of the industrial products company’s stock valued at $2,071,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.