Alamo Group (NYSE:ALG) Releases Earnings Results

Alamo Group (NYSE:ALG) posted its quarterly earnings results on Monday. The industrial products company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.20 by $0.36, FiscalAI reports. Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. The business had revenue of $417.15 million for the quarter, compared to analysts’ expectations of $398.02 million.

Alamo Group Stock Down 2.1%

Alamo Group stock traded down $3.59 during mid-day trading on Monday, hitting $167.76. 132,969 shares of the company’s stock were exchanged, compared to its average volume of 139,858. Alamo Group has a 1-year low of $156.29 and a 1-year high of $233.29. The stock has a 50 day moving average of $176.78 and a two-hundred day moving average of $179.33. The company has a current ratio of 4.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.03 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.04 and a beta of 1.17.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. Alamo Group’s dividend payout ratio is presently 15.83%.

Insiders Place Their Bets

In other news, EVP Edward Rizzuti sold 600 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $170.93, for a total transaction of $102,558.00. Following the transaction, the executive vice president owned 10,857 shares of the company’s stock, valued at approximately $1,855,787.01. This represents a 5.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert Paul Hureau acquired 460 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was bought at an average cost of $164.40 per share, for a total transaction of $75,624.00. Following the completion of the purchase, the chief executive officer directly owned 12,506 shares in the company, valued at $2,055,986.40. This represents a 3.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.06% of the company’s stock.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP acquired a new position in shares of Alamo Group during the second quarter worth approximately $51,427,000. Goldman Sachs Group Inc. increased its position in Alamo Group by 239.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 157,291 shares of the industrial products company’s stock worth $26,404,000 after acquiring an additional 110,941 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Alamo Group by 72.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 230,180 shares of the industrial products company’s stock worth $38,641,000 after acquiring an additional 96,369 shares during the period. Wellington Management Group LLP acquired a new position in Alamo Group during the 4th quarter valued at $13,049,000. Finally, First Trust Advisors LP raised its stake in Alamo Group by 13.1% during the 4th quarter. First Trust Advisors LP now owns 445,105 shares of the industrial products company’s stock valued at $74,720,000 after purchasing an additional 51,618 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on ALG shares. Zacks Research downgraded Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a research note on Friday, March 27th. DA Davidson reiterated a “neutral” rating and set a $190.00 price target on shares of Alamo Group in a report on Wednesday, April 29th. Finally, William Blair began coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alamo Group has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Alamo Group Company Profile

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.