Alamo Group, Inc. (NYSE:ALG) Forecasted to Earn Q1 2018 Earnings of $1.15 Per Share
Alamo Group, Inc. (NYSE:ALG) – Equities researchers at Seaport Global Securities issued their Q1 2018 earnings estimates for shares of Alamo Group in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst M. Shlisky anticipates that the industrial products company will earn $1.15 per share for the quarter. Seaport Global Securities has a “Neutral” rating and a $80.00 price target on the stock. Seaport Global Securities also issued estimates for Alamo Group’s Q4 2018 earnings at $0.85 EPS.
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ALG has been the topic of a number of other reports. Zacks Investment Research downgraded Alamo Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. BidaskClub raised Alamo Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price target on shares of Alamo Group in a report on Friday.
Alamo Group (NYSE ALG) opened at 92.68 on Monday. Alamo Group has a 52 week low of $58.30 and a 52 week high of $94.01. The company has a market capitalization of $1.07 billion, a PE ratio of 24.65 and a beta of 0.95. The firm’s 50-day moving average price is $87.60 and its 200 day moving average price is $79.28.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position 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 worth $130,000 after buying an additional 156 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Alamo Group during the fourth quarter worth about $156,000. Mason Street Advisors LLC increased its position 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 worth $168,000 after buying an additional 144 shares during the last quarter. State of Alaska Department of Revenue increased its position 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 worth $169,000 after buying an additional 825 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of Alamo Group during the first quarter worth about $207,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Ronald A. Robinson sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $83.76, for a total transaction of $2,094,000.00. Following the transaction, the chief executive officer now directly owns 222,575 shares of the company’s stock, valued at $18,642,882. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Geoff Davies sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $84.11, for a total value of $841,100.00. Following the transaction, the vice president now directly owns 14,000 shares in the company, valued at $1,177,540. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,235 shares of company stock worth $3,314,748. Corporate insiders own 3.99% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Monday, July 17th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, July 13th. Alamo Group’s payout ratio is currently 10.64%.
Alamo Group Company Profile
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.
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