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

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

Alamo Group Stock Down 2.5%

ALG traded down $4.49 during trading on Thursday, reaching $172.73. 108,371 shares of the stock were exchanged, compared to its average volume of 104,240. The stock has a market cap of $2.09 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. Alamo Group has a twelve month low of $157.07 and a twelve month high of $233.29. The stock’s 50 day moving average price is $193.35 and its two-hundred day moving average price is $202.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56.

Alamo Group Dividend Announcement

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the transaction, the chief executive officer directly owned 38,413 shares in the company, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors have recently added to or reduced their stakes in ALG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alamo Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company’s stock worth $1,084,000 after buying an additional 251 shares during the last quarter. Millennium Management LLC increased its holdings in Alamo Group by 164.7% during the first quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock worth $11,332,000 after buying an additional 39,564 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in 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 buying an additional 314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alamo Group by 12.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company’s stock valued at $6,444,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Alamo Group by 83.7% in the second quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company’s stock valued at $16,899,000 after purchasing an additional 35,248 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.