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

Alamo Group Inc. (NYSE:ALG) – Stock analysts at DA Davidson issued their Q3 2024 earnings estimates for Alamo Group in a research 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 objective on the stock. The consensus estimate for Alamo Group’s current full-year earnings is $12.30 per share.

Other research analysts also recently issued reports about the company. Robert W. Baird lowered their price objective on Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Alamo Group Stock Down 1.3 %

NYSE:ALG opened at $169.28 on Tuesday. The firm has a market capitalization of $2.04 billion, a PE ratio of 15.06 and a beta of 1.04. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The company has a current ratio of 4.37, a quick ratio of 2.49 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $179.14 and a 200-day moving average of $197.58.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data 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 business had revenue of $416.30 million for the quarter. During the same period in the previous year, the company posted $3.03 earnings per share.

Hedge Funds Weigh In On Alamo Group

Large investors have recently bought and sold shares of the stock. Hudson Edge Investment Partners Inc. raised its holdings in Alamo Group by 13.5% during the second quarter. Hudson Edge Investment Partners Inc. now owns 3,575 shares of the industrial products company’s stock worth $618,000 after purchasing an additional 424 shares in the last quarter. Arizona State Retirement System increased its position in shares of Alamo Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 63 shares during the period. Victory Capital Management Inc. boosted its stake in Alamo Group by 9.4% during the second quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock valued at $66,888,000 after buying an additional 33,190 shares in the last quarter. Hodges Capital Management Inc. raised its position in Alamo Group by 21.0% in the second quarter. Hodges Capital Management Inc. now owns 40,003 shares of the industrial products company’s stock worth $6,921,000 after acquiring an additional 6,950 shares in the last quarter. Finally, Guidance Capital Inc. raised its holdings in shares of Alamo Group by 12.5% in the 2nd quarter. Guidance Capital Inc. now owns 2,348 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 261 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.61%. 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.