Alamo Group (NYSE:ALG) Posts Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Alamo Group (NYSE:ALG) released its earnings results on Monday. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36), FiscalAI reports. The business had revenue of $373.65 million during the quarter, compared to analyst estimates of $405.18 million. Alamo Group had a net margin of 7.20% and a return on equity of 11.11%.

Alamo Group Stock Performance

Shares of NYSE:ALG traded up $4.57 on Monday, hitting $218.10. The company had a trading volume of 101,056 shares, compared to its average volume of 111,649. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.19 and a beta of 1.10. The stock has a 50 day moving average price of $193.64 and a 200 day moving average price of $189.17. Alamo Group has a 1-year low of $156.29 and a 1-year high of $233.29. The company has a current ratio of 4.43, a quick ratio of 2.72 and a debt-to-equity ratio of 0.17.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were paid a $0.34 dividend. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, January 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. Alamo Group’s dividend payout ratio (DPR) is currently 14.11%.

Hedge Funds Weigh In On Alamo Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in shares of Alamo Group by 136.2% during 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 during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Alamo Group by 3,140.0% during the 1st 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 in the last quarter. Kestra Advisory Services LLC acquired a new stake in Alamo Group in the fourth quarter worth $76,000. State of Wyoming raised its position in shares of Alamo Group by 76.5% during the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 205 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Alamo Group in the second quarter worth approximately $87,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALG shares. Wall Street Zen downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. DA Davidson lowered their price objective on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, CJS Securities raised Alamo Group to a “strong-buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.33.

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.