Alamo Group Inc. Forecasted to Earn Q1 2024 Earnings of $2.66 Per Share (NYSE:ALG)

Alamo Group Inc. (NYSE:ALGFree Report) – Stock analysts at DA Davidson issued their Q1 2024 earnings per share (EPS) estimates for shares of Alamo Group in a note issued to investors on Tuesday, February 27th. DA Davidson analyst M. Shlisky forecasts that the industrial products company will earn $2.66 per share for the quarter. DA Davidson currently has a “Buy” rating and a $235.00 target price on the stock. The consensus estimate for Alamo Group’s current full-year earnings is $13.17 per share. DA Davidson also issued estimates for Alamo Group’s FY2025 earnings at $13.76 EPS.

Separately, StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Monday.

Read Our Latest Stock Analysis on ALG

Alamo Group Trading Down 0.2 %

NYSE ALG opened at $202.29 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. The stock has a market capitalization of $2.43 billion, a P/E ratio of 17.81 and a beta of 1.06. The firm’s 50-day moving average is $209.70 and its two-hundred day moving average is $188.43. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Tuesday, January 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.51%. This is a boost from Alamo Group’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, January 12th. Alamo Group’s payout ratio is presently 9.15%.

Insider Buying and Selling at Alamo Group

In related news, EVP Richard Hodges Raborn sold 606 shares of Alamo Group stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $212.24, for a total value of $128,617.44. Following the completion of the transaction, the executive vice president now owns 9,032 shares in the company, valued at $1,916,951.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Alamo Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aviva PLC purchased a new stake in shares of Alamo Group in the 3rd quarter valued at about $604,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Alamo Group by 2.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 253,338 shares of the industrial products company’s stock valued at $43,792,000 after acquiring an additional 6,215 shares during the period. Strs Ohio raised its position in Alamo Group by 12.9% in the 3rd quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock valued at $8,020,000 after purchasing an additional 5,300 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Alamo Group by 10.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 10,353 shares of the industrial products company’s stock worth $1,790,000 after purchasing an additional 956 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Alamo Group by 6.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 279,554 shares of the industrial products company’s stock worth $48,324,000 after purchasing an additional 17,646 shares during the last quarter. Institutional investors and hedge funds own 91.15% of the company’s stock.

About Alamo Group

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Alamo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alamo Group and related companies with MarketBeat.com's FREE daily email newsletter.