Alamo Group (NYSE:ALG) Releases Quarterly Earnings Results, Misses Estimates By $0.27 EPS

Alamo Group (NYSE:ALG) released its quarterly earnings results on Thursday. The industrial products company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.61 by ($0.27), FiscalAI reports. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The business had revenue of $420.04 million during the quarter, compared to analyst estimates of $407.55 million.

Alamo Group Trading Down 2.5%

Shares of NYSE:ALG traded down $4.49 during mid-day trading on Thursday, hitting $172.73. The company had a trading volume of 108,371 shares, compared to its average volume of 104,240. The firm has a fifty day moving average price of $193.35 and a 200 day moving average price of $202.83. The company has a market capitalization of $2.09 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76. Alamo Group has a one year low of $157.07 and a one year high of $233.29.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th were paid a $0.30 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. Alamo Group’s payout ratio is currently 12.22%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALG shares. Baird R W upgraded shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Robert W. Baird upgraded shares of Alamo Group from a “neutral” rating to an “outperform” rating and raised their price target for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Alamo Group in a research note on Wednesday, October 8th. Finally, DA Davidson restated a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $234.00.

Insider Buying and Selling at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the completion of the sale, the chief executive officer owned 38,413 shares in the company, valued at $8,534,984.47. The trade was a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of Alamo Group

Several hedge funds have recently modified their holdings of ALG. Wasatch Advisors LP bought a new stake in shares of Alamo Group in the 2nd quarter valued at $51,427,000. Millennium Management LLC increased its stake in shares of Alamo Group by 164.7% in the 1st quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock valued at $11,332,000 after acquiring an additional 39,564 shares in the last quarter. Invesco Ltd. increased its stake in shares of Alamo Group by 83.7% in the 2nd quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company’s stock valued at $16,899,000 after acquiring an additional 35,248 shares in the last quarter. Raymond James Financial Inc. grew its position in Alamo Group by 2,079.3% in the 2nd quarter. Raymond James Financial Inc. now owns 27,089 shares of the industrial products company’s stock valued at $5,916,000 after purchasing an additional 25,846 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Alamo Group in the 2nd quarter valued at $4,145,000. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

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.