DA Davidson Comments on Alamo Group Inc.’s Q3 2024 Earnings (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) – Research analysts at DA Davidson issued their Q3 2024 EPS estimates for shares of Alamo Group in a report issued on Monday, August 5th. DA Davidson analyst M. Shlisky forecasts that the industrial products company will post earnings of $2.60 per share for the quarter. DA Davidson has a “Buy” rating and a $209.00 price target on the stock. The consensus estimate for Alamo Group’s current full-year earnings is $12.30 per share.

Several other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird decreased their target price on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd.

Alamo Group Stock Down 1.3 %

Shares of ALG opened at $169.28 on Tuesday. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.49 and a current ratio of 4.37. The stock has a 50 day moving average price of $179.14 and a 200 day moving average price of $197.58. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.06 and a beta of 1.04.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The company had revenue of $416.30 million during the quarter. During the same quarter in the previous year, the company earned $3.03 earnings per share.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors have recently bought and sold shares of ALG. Contravisory Investment Management Inc. increased its holdings in shares of Alamo Group by 73.4% during 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. First Horizon Advisors Inc. increased its stake in Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 159 shares during the last quarter. Quest Partners LLC purchased a new stake in Alamo Group in the fourth quarter valued at $52,000. nVerses Capital LLC acquired a new position in shares of Alamo Group in the 2nd quarter valued at $52,000. Finally, Bessemer Group Inc. increased its position in shares of Alamo Group by 1,885.7% during the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 264 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Tuesday, July 16th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, July 16th. Alamo Group’s dividend payout ratio is currently 9.25%.

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.