Research Analysts Set Expectations for Alamo Group Inc.’s Q2 2024 Earnings (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) – DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Alamo Group in a report issued on Tuesday, May 7th. DA Davidson analyst M. Shlisky expects that the industrial products company will post earnings of $2.79 per share for the quarter. DA Davidson currently has a “Buy” rating and a $225.00 price target 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 cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday.

Alamo Group Trading Up 2.2 %

NYSE:ALG opened at $198.22 on Wednesday. The business’s 50-day simple moving average is $207.80 and its 200 day simple moving average is $200.95. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 17.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The business had revenue of $425.59 million for the quarter. During the same quarter last year, the firm posted $2.79 EPS.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, April 15th. Alamo Group’s payout ratio is currently 9.25%.

Insider Buying and Selling at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of Alamo Group stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total transaction of $93,577.66. Following the transaction, the executive vice president now owns 19,206 shares in the company, valued at $4,299,647.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alamo Group by 42.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock valued at $83,906,000 after purchasing an additional 119,636 shares in the last quarter. Tributary Capital Management LLC acquired a new position in Alamo Group in the first quarter valued at about $12,844,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Alamo Group by 19.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock worth $73,223,000 after buying an additional 53,195 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alamo Group by 251.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock valued at $7,643,000 after purchasing an additional 31,621 shares in the last quarter. Finally, RK Capital Management LLC bought a new position in shares of Alamo Group in the 3rd quarter valued at $5,177,000. 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.