Analysts Issue Forecasts for Alamo Group Inc.’s Q2 2024 Earnings (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Alamo Group in a report released on Tuesday, May 7th. DA Davidson analyst M. Shlisky anticipates 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.

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

Separately, StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday.

Alamo Group Trading Up 0.5 %

Shares of ALG stock opened at $194.12 on Wednesday. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07. The stock has a 50-day moving average of $208.06 and a 200-day moving average of $201.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALG. Commonwealth Equity Services LLC raised its stake in Alamo Group by 1.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,765 shares of the industrial products company’s stock valued at $1,861,000 after acquiring an additional 184 shares during the period. Strs Ohio raised its position in shares of Alamo Group by 12.9% in the third quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock valued at $8,020,000 after purchasing an additional 5,300 shares during the period. TIAA Trust National Association purchased a new stake in shares of Alamo Group during the 3rd quarter valued at approximately $257,000. Allspring Global Investments Holdings LLC boosted its holdings in Alamo Group by 6.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 279,554 shares of the industrial products company’s stock worth $48,324,000 after buying an additional 17,646 shares during the period. Finally, Cambiar Investors LLC grew its stake in Alamo Group by 3.8% in the 3rd quarter. Cambiar Investors LLC now owns 13,494 shares of the industrial products company’s stock valued at $2,333,000 after buying an additional 500 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the transaction, 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 through this link. 1.40% of the stock is owned by corporate insiders.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Tuesday, April 16th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, April 15th. Alamo Group’s payout ratio is currently 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.