Alamo Group, Inc. (ALG) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS
Alamo Group, Inc. (NYSE:ALG) posted its quarterly earnings results on Tuesday. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.16, Bloomberg Earnings reports. The firm had revenue of $240.46 million during the quarter, compared to analysts’ expectations of $223.40 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%.
Alamo Group (NYSE ALG) traded up 4.08% on Wednesday, reaching $109.80. 69,635 shares of the company traded hands. The company has a market capitalization of $1.28 billion, a P/E ratio of 28.23 and a beta of 0.95. Alamo Group has a 12 month low of $58.30 and a 12 month high of $111.02. The company has a 50-day moving average price of $105.08 and a 200-day moving average price of $92.52.
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Monday, October 16th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.40 annualized dividend and a yield of 0.38%. Alamo Group’s dividend payout ratio is currently 10.28%.
In related news, President John Redmond acquired 11,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average cost of $138.28 per share, with a total value of $1,521,080.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 364 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $92.19, for a total transaction of $33,557.16. Following the transaction, the executive vice president now directly owns 4,500 shares in the company, valued at $414,855. The disclosure for this sale can be found here. 3.99% of the stock is owned by insiders.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Alamo Group from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Tuesday, August 22nd. BidaskClub cut shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Friday, August 18th. ValuEngine raised shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Piper Jaffray Companies set a $104.00 price target on shares of Alamo Group and gave the stock a “buy” rating in a report on Sunday, October 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $99.33.
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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