Alamo Group (NYSE:ALG) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Alamo Group (NYSE:ALG) issued its quarterly earnings results on Monday. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.74 by $0.08, FiscalAI reports. The firm had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%.

Alamo Group Trading Up 3.0%

ALG traded up $4.82 during trading on Monday, hitting $163.90. 126,378 shares of the company’s stock were exchanged, compared to its average volume of 157,229. Alamo Group has a 1 year low of $145.76 and a 1 year high of $233.29. The stock has a 50 day moving average price of $159.62 and a 200 day moving average price of $173.03. The firm has a market cap of $1.99 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.93 and a beta of 1.10. The company has a current ratio of 4.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.23.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, July 16th. Alamo Group’s payout ratio is currently 16.27%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, DA Davidson reissued a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Institutional Trading of Alamo Group

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC increased its holdings in Alamo Group by 136.2% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 177 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Alamo Group in the second quarter worth about $87,000. Kestra Advisory Services LLC acquired a new stake in shares of Alamo Group in the fourth quarter valued at about $76,000. Finally, Globeflex Capital L P acquired a new stake in shares of Alamo Group in the second quarter valued at about $100,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.