Alamo Group (NYSE:ALG) Announces Quarterly Earnings Results, Misses Estimates By $0.56 EPS

Alamo Group (NYSE:ALG) released its quarterly earnings data on Monday. The industrial products company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.56), FiscalAI reports. The business had revenue of $403.14 million during the quarter, compared to analysts’ expectations of $437.11 million. Alamo Group had a net margin of 4.72% and a return on equity of 9.47%.

Alamo Group Trading Down 2.3%

Alamo Group stock traded down $3.45 during trading hours on Wednesday, reaching $145.04. The stock had a trading volume of 32,299 shares, compared to its average volume of 162,062. The stock has a market cap of $1.77 billion, a PE ratio of 22.63, a PEG ratio of 0.91 and a beta of 1.08. Alamo Group has a 52 week low of $133.32 and a 52 week high of $219.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48. The company has a fifty day simple moving average of $159.02 and a 200-day simple moving average of $168.66.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Thursday, October 15th were issued a $0.34 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. Alamo Group’s dividend payout ratio (DPR) is currently 21.22%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Alamo Group has a consensus rating of “Moderate Buy” and a consensus target price of $188.00.

Insider Buying and Selling

In related news, EVP Edward Rizzuti sold 2,715 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $164.41, for a total transaction of $446,373.15. Following the completion of the transaction, the executive vice president owned 8,142 shares in the company, valued at $1,338,626.22. This represents a 25.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is owned by insiders.

About Alamo Group

Alamo Group Inc (NYSE: ALG) manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company’s product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.