Alamo Group (NYSE:ALG) Price Target Cut to $209.00

Alamo Group (NYSE:ALG) had its price target decreased by DA Davidson from $225.00 to $209.00 in a report published on Monday morning, Benzinga reports. DA Davidson currently has a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Alamo Group’s Q3 2024 earnings at $2.60 EPS, FY2024 earnings at $10.23 EPS and FY2025 earnings at $12.64 EPS.

Several other equities analysts have also recently weighed in on the stock. StockNews.com cut 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 for the company in a research note on Friday, August 2nd.

Alamo Group Price Performance

Shares of ALG opened at $174.88 on Monday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 15.56 and a beta of 1.04. Alamo Group has a twelve month low of $157.74 and a twelve month high of $231.40. The company has a 50 day moving average of $178.77 and a 200-day moving average of $197.39. The company has a quick ratio of 2.49, a current ratio of 4.37 and a debt-to-equity ratio of 0.28.

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 the consensus estimate of $2.79 by ($0.44). Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. The business had revenue of $416.30 million for the quarter. During the same period in the prior year, the company earned $3.03 earnings per share. As a group, equities research analysts forecast that Alamo Group will post 12.3 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Tuesday, July 16th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.59%. The ex-dividend date was Tuesday, July 16th. Alamo Group’s dividend payout ratio is 9.25%.

Institutional Investors Weigh In On Alamo Group

Hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. lifted its holdings in Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the last quarter. Quest Partners LLC acquired a new stake in Alamo Group during the 4th quarter valued at $52,000. First Horizon Advisors Inc. lifted its holdings in Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Alamo Group by 1,885.7% during the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 264 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Alamo Group during the 2nd quarter valued at $52,000. Institutional investors and hedge funds 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.