DA Davidson Has Negative View of Alamo Group FY2024 Earnings

Alamo Group Inc. (NYSE:ALG - Free Report) - Equities researchers at DA Davidson cut their FY2024 earnings per share estimates for shares of Alamo Group in a research note issued to investors on Tuesday, November 5th. DA Davidson analyst M. Shlisky now expects that the industrial products company will post earnings of $9.53 per share for the year, down from their previous estimate of $10.23. DA Davidson has a "Buy" rating and a $219.00 price objective on the stock. The consensus estimate for Alamo Group's current full-year earnings is $10.23 per share. DA Davidson also issued estimates for Alamo Group's Q4 2024 earnings at $2.23 EPS.

Several other equities research analysts have also recently commented on ALG. StockNews.com cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Robert W. Baird increased their price target on Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday.

Alamo Group Stock Up 5.4 %

Shares of ALG stock traded up $10.09 during trading on Wednesday, reaching $196.89. The company's stock had a trading volume of 121,649 shares, compared to its average volume of 75,769. Alamo Group has a one year low of $163.74 and a one year high of $231.40. The business has a fifty day moving average price of $177.57 and a 200-day moving average price of $181.60. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 19.83 and a beta of 1.08. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Tuesday, October 15th. Alamo Group's dividend payout ratio (DPR) is presently 10.47%.

Insider Activity

In related news, EVP Richard Hodges Raborn sold 300 shares of the firm's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Richard Hodges Raborn sold 300 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares of the company's stock, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the firm's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares of the company's stock, valued at $1,384,421.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Institutional Trading of Alamo Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company's stock worth $115,626,000 after acquiring an additional 45,422 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company's stock valued at $74,830,000 after purchasing an additional 28,786 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Alamo Group by 16.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company's stock valued at $64,518,000 after buying an additional 52,250 shares in the last quarter. Westwood Holdings Group Inc. increased its position in Alamo Group by 17.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company's stock worth $59,635,000 after buying an additional 50,327 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company's stock worth $39,346,000 after buying an additional 51,292 shares in the last quarter. Institutional investors own 92.36% of the company's stock.

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.