Seaport Global Securities Weighs in on Alamo Group, Inc.’s Q1 2018 Earnings (ALG)
Alamo Group, Inc. (NYSE:ALG) – Stock analysts at Seaport Global Securities upped their Q1 2018 EPS estimates for shares of Alamo Group in a report issued on Friday. Seaport Global Securities analyst M. Shlisky now forecasts that the industrial products company will post earnings per share of $1.25 for the quarter, up from their prior estimate of $1.13. Seaport Global Securities also issued estimates for Alamo Group’s Q2 2018 earnings at $1.26 EPS and Q3 2018 earnings at $1.55 EPS.
A number of other brokerages also recently issued reports on ALG. Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price target on shares of Alamo Group in a report on Friday, July 14th. Zacks Investment Research raised Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Tuesday, August 8th. BidaskClub downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, ValuEngine downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $105.00.
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Shares of Alamo Group (NYSE ALG) traded up $0.47 during midday trading on Monday, reaching $114.09. The company’s stock had a trading volume of 61,361 shares, compared to its average volume of 60,663. The stock has a market cap of $1,320.97, a P/E ratio of 26.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.48 and a quick ratio of 2.85. Alamo Group has a 12 month low of $62.98 and a 12 month high of $114.57.
Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.16. The company had revenue of $240.46 million during the quarter, compared to the consensus estimate of $223.40 million. Alamo Group had a return on equity of 12.11% and a net margin of 5.56%.
Several institutional investors have recently bought and sold shares of the company. Pinebridge Investments L.P. lifted its holdings in shares of Alamo Group by 1.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 17 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Alamo Group by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 80 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Alamo Group by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 100 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Alamo Group by 1.2% in the 1st quarter. Legal & General Group Plc now owns 15,757 shares of the industrial products company’s stock valued at $1,202,000 after purchasing an additional 184 shares during the last quarter. Finally, Strs Ohio raised its stake in Alamo Group by 6.1% during the 2nd quarter. Strs Ohio now owns 3,500 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 200 shares during the last quarter. 88.98% of the stock is owned by institutional investors and hedge funds.
In other news, VP Geoff Davies sold 4,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $98.16, for a total value of $392,640.00. Following the completion of the sale, the vice president now directly owns 3,800 shares of the company’s stock, valued at approximately $373,008. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 2,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $111.53, for a total value of $223,060.00. Following the completion of the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at $501,885. The disclosure for this sale can be found here. Insiders sold a total of 6,364 shares of company stock valued at $649,257 over the last three months. Company insiders own 3.99% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Monday, October 16th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, October 13th. Alamo Group’s payout ratio is currently 9.59%.
About Alamo Group
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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