Alamo Group Inc. Forecasted to Earn Q2 2024 Earnings of $2.79 Per Share (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) – Analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Alamo Group in a research note issued on Tuesday, May 7th. DA Davidson analyst M. Shlisky expects that the industrial products company will post earnings per share of $2.79 for the quarter. DA Davidson has a “Buy” rating and a $225.00 price objective on the stock. The consensus estimate for Alamo Group’s current full-year earnings is $13.17 per share. DA Davidson also issued estimates for Alamo Group’s FY2024 earnings at $12.30 EPS and FY2025 earnings at $13.53 EPS.

Separately, StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $193.99 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.29 and a quick ratio of 2.49. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The business has a 50-day simple moving average of $207.88 and a 200 day simple moving average of $200.97. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 17.26 and a beta of 1.07.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The company had revenue of $425.59 million for the quarter. During the same period in the prior year, the firm earned $2.79 earnings per share.

Hedge Funds Weigh In On Alamo Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its stake in shares of Alamo Group by 1.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 10,765 shares of the industrial products company’s stock worth $1,861,000 after acquiring an additional 184 shares during the period. Strs Ohio increased its stake in shares of Alamo Group by 12.9% in the third quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock worth $8,020,000 after purchasing an additional 5,300 shares in the last quarter. TIAA Trust National Association bought a new stake in shares of Alamo Group in the third quarter valued at approximately $257,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Alamo Group by 6.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 279,554 shares of the industrial products company’s stock valued at $48,324,000 after buying an additional 17,646 shares in the last quarter. Finally, Cambiar Investors LLC boosted its holdings in Alamo Group by 3.8% in the 3rd quarter. Cambiar Investors LLC now owns 13,494 shares of the industrial products company’s stock worth $2,333,000 after buying an additional 500 shares during the period. 92.36% of the stock is owned by institutional investors.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the sale, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.40% of the stock is owned by insiders.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th were issued a $0.26 dividend. The ex-dividend date was Monday, April 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Alamo Group’s dividend payout ratio is presently 9.25%.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.