Alamo Group FY2024 EPS Forecast Decreased by DA Davidson

Alamo Group Inc. (NYSE:ALG) – Research analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for Alamo Group in a report issued on Tuesday, November 5th. DA Davidson analyst M. Shlisky now anticipates that the industrial products company will post earnings of $9.53 per share for the year, down from their prior forecast 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.

A number of other equities research analysts have also recently issued reports on ALG. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird lifted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday.

Alamo Group Trading Up 1.9 %

Shares of NYSE ALG opened at $186.80 on Wednesday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 18.81 and a beta of 1.08. The stock’s 50 day simple moving average is $177.27 and its 200 day simple moving average is $181.50. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group has a 12-month low of $163.74 and a 12-month high of $231.40.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were paid a $0.26 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. Alamo Group’s payout ratio is 10.47%.

Insider Activity

In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alamo Group 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 directly owns 11,061 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. This 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.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in shares of Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors acquired a new stake in Alamo Group during the third quarter valued at approximately $37,000. First Horizon Advisors Inc. boosted its holdings in Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after buying an additional 159 shares in the last quarter. Quarry LP acquired a new position in Alamo Group in the second quarter worth approximately $48,000. Finally, Bessemer Group Inc. increased its holdings in shares of Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after buying an additional 264 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

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.