Alamo Group (NYSE:ALG) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Key Points

• Alamo Group reported a quarterly EPS of $2.57, missing analysts' estimates by $0.12, although their revenue of $419.07 million surpassed expectations.
• The company declared a quarterly dividend of $0.30 per share, resulting in an annualized dividend of $1.20 and a yield of 0.5%.
• Recent analyst ratings have been mixed, with Baird R W upgrading the stock to a "strong-buy", while others have maintained a cautious stance with price targets ranging from $209.00 to $260.00.

Alamo Group (NYSE:ALG - Get Free Report) released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12), Zacks reports. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The firm had revenue of $419.07 million during the quarter, compared to the consensus estimate of $406.75 million.

Alamo Group Stock Performance

NYSE ALG traded up $4.45 on Wednesday, hitting $231.46. 17,892 shares of the company's stock traded hands, compared to its average volume of 112,689. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. Alamo Group has a 1-year low of $157.07 and a 1-year high of $230.15. The firm's 50-day moving average price is $218.59 and its two-hundred day moving average price is $195.24. The firm has a market capitalization of $2.80 billion, a PE ratio of 23.56, a P/E/G ratio of 1.16 and a beta of 1.10.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, July 16th. Alamo Group's payout ratio is presently 12.22%.

Institutional Trading of Alamo Group

Several institutional investors and hedge funds have recently bought and sold shares of ALG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alamo Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company's stock valued at $1,084,000 after purchasing an additional 251 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Alamo Group by 164.7% during the 1st quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company's stock valued at $11,332,000 after purchasing an additional 39,564 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 314 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alamo Group by 12.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company's stock valued at $6,444,000 after purchasing an additional 4,062 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALG has been the topic of a number of recent analyst reports. DA Davidson restated a "neutral" rating and issued a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. Baird R W upgraded shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Wall Street Zen cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

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.