Alamo Group (NYSE:ALG) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Alamo Group (NYSE:ALG) posted its quarterly earnings results on Friday. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.01, Zacks reports. The firm had revenue of $425.59 million during the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same period in the prior year, the company earned $2.79 earnings per share.

Alamo Group Price Performance

Shares of NYSE:ALG traded down $0.29 during midday trading on Monday, hitting $193.68. 34,169 shares of the stock were exchanged, compared to its average volume of 71,929. The stock has a market cap of $2.33 billion, a P/E ratio of 17.26 and a beta of 1.07. Alamo Group has a twelve month low of $157.74 and a twelve month high of $231.40. The company has a 50 day moving average price of $208.34 and a 200-day moving average price of $200.61. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, April 15th. Alamo Group’s dividend payout ratio is currently 9.25%.

Analyst Upgrades and Downgrades

ALG has been the subject of several research analyst reports. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. DA Davidson boosted their price objective on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the sale, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

About Alamo Group

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.