Analysts Issue Forecasts for Alamo Group FY2024 Earnings

Alamo Group Inc. (NYSE:ALG) – DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Alamo Group in a research note issued on Tuesday, November 5th. DA Davidson analyst M. Shlisky now anticipates that the industrial products company will earn $9.53 per share for the year, down from their prior estimate of $10.23. DA Davidson has a “Buy” rating and a $219.00 price target 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.

Other research analysts also recently issued research reports about the company. Robert W. Baird upped their price objective on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th.

Alamo Group Trading Up 5.4 %

NYSE ALG opened at $196.89 on Wednesday. The firm has a market capitalization of $2.37 billion, a P/E ratio of 19.83 and a beta of 1.08. The business has a fifty day simple moving average of $177.57 and a 200 day simple moving average of $181.60. Alamo Group has a 12 month low of $163.74 and a 12 month high of $231.40. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Institutional Trading of Alamo Group

Institutional investors and hedge funds have recently modified their holdings of the business. Edgestream Partners L.P. purchased a new stake in shares of Alamo Group in the 1st quarter valued at about $1,067,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Alamo Group by 16.3% during 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. Janus Henderson Group PLC raised its holdings in shares of Alamo Group by 42.4% during the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock valued at $39,346,000 after buying an additional 51,292 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Alamo Group during the 2nd quarter valued at about $4,290,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Alamo Group by 7.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after buying an additional 45,422 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. This represents 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 this hyperlink. In other news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. This represents 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 this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction dated Monday, August 19th. The stock was 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 in the company, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Alamo Group Announces Dividend

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

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.