DA Davidson Trims Alamo Group (NYSE:ALG) Target Price to $225.00

Alamo Group (NYSE:ALG) had its price target reduced by DA Davidson from $235.00 to $225.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock. DA Davidson also issued estimates for Alamo Group’s Q2 2024 earnings at $2.79 EPS, FY2024 earnings at $12.30 EPS and FY2025 earnings at $13.53 EPS.

Separately, StockNews.com lowered shares of Alamo Group from a buy rating to a hold rating in a research report on Monday.

Alamo Group Trading Up 2.2 %

ALG opened at $198.22 on Tuesday. 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 has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a market cap of $2.39 billion, a P/E ratio of 17.64 and a beta of 1.07. The company has a fifty day moving average price of $207.80 and a two-hundred day moving average price of $200.95.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The business had revenue of $425.59 million for the quarter. During the same period in the prior year, the firm posted $2.79 EPS. Analysts predict that Alamo Group will post 13.17 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, April 15th. Alamo Group’s payout ratio is presently 9.25%.

Insider Activity

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction that occurred on 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 directly owns 19,206 shares in the company, valued at approximately $4,299,647.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

Institutional Trading of Alamo Group

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its position in Alamo Group by 1.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,765 shares of the industrial products company’s stock worth $1,861,000 after buying an additional 184 shares during the last quarter. Strs Ohio grew its stake in shares of Alamo Group by 12.9% during the third quarter. Strs Ohio now owns 46,400 shares of the industrial products company’s stock valued at $8,020,000 after buying an additional 5,300 shares during the last quarter. TIAA Trust National Association purchased a new position in shares of Alamo Group in the third quarter worth about $257,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Alamo Group by 6.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 279,554 shares of the industrial products company’s stock valued at $48,324,000 after acquiring an additional 17,646 shares during the last quarter. Finally, Cambiar Investors LLC increased its stake in Alamo Group by 3.8% in the 3rd quarter. Cambiar Investors LLC now owns 13,494 shares of the industrial products company’s stock worth $2,333,000 after purchasing an additional 500 shares during the period. 92.36% of the stock is owned by institutional investors.

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.