Alamo Group Inc. (NYSE:ALG) Forecasted to Post Q2 2024 Earnings of $2.79 Per Share

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

Alamo Group Price Performance

Alamo Group stock opened at $198.22 on Wednesday. The firm has a 50-day moving average price of $207.80 and a 200-day moving average price of $200.95. The firm has a market capitalization of $2.39 billion, a PE ratio of 17.64 and a beta of 1.07. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. Alamo Group has a 12-month low of $157.74 and a 12-month high of $231.40.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. grew its position in shares of Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after buying an additional 47 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Alamo Group in the 4th quarter worth approximately $52,000. Duncker Streett & Co. Inc. purchased a new position in shares of Alamo Group in the 1st quarter worth approximately $82,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Alamo Group in the 4th quarter worth approximately $208,000. Finally, FCA Corp TX purchased a new position in shares of Alamo Group in the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Activity at Alamo Group

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

Alamo Group Announces Dividend

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

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.