According to Zacks, “Alamo Group Inc. is a leading manufacturer of high quality equipment for right-of-way maintenance and agriculture. Their products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, agricultural implements and related after market parts and services. They emphasize high quality, cost efficient products for their customers and strive to develop and market innovative products while constantly monitoring and containing their manufacturing and overhead costs. “
Separately, Piper Jaffray Cos. reiterated an overweight rating and issued a $70.00 price objective (up previously from $68.00) on shares of Alamo Group in a report on Wednesday, August 10th.
Alamo Group (NYSE:ALG) opened at 64.62 on Friday. Alamo Group has a 1-year low of $43.98 and a 1-year high of $68.04. The company’s 50-day moving average price is $64.68 and its 200-day moving average price is $61.13. The firm has a market capitalization of $743.00 million, a P/E ratio of 16.41 and a beta of 0.97.
Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by $0.09. Alamo Group had a net margin of 5.16% and a return on equity of 12.34%. The firm had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $219.74 million. Equities research analysts expect that Alamo Group will post $3.82 earnings per share for the current fiscal year.
In related news, VP Geoff Davies sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $63.07, for a total value of $189,210.00. Following the sale, the vice president now directly owns 22,500 shares of the company’s stock, valued at $1,419,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Etchart bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was acquired at an average cost of $58.84 per share, for a total transaction of $58,840.00. Following the completion of the purchase, the director now directly owns 3,852 shares of the company’s stock, valued at $226,651.68. The disclosure for this purchase can be found here. 3.63% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Aperio Group LLC boosted its stake in Alamo Group by 41.1% in the first quarter. Aperio Group LLC now owns 6,143 shares of the company’s stock valued at $342,000 after buying an additional 1,788 shares during the last quarter. National Investment Services Inc. WI acquired a new stake in Alamo Group during the second quarter valued at about $286,000. Louisiana State Employees Retirement System acquired a new stake in Alamo Group during the second quarter valued at about $277,000. Renaissance Technologies LLC acquired a new stake in Alamo Group during the first quarter valued at about $2,471,000. Finally, AXA acquired a new stake in Alamo Group during the first quarter valued at about $1,242,000. 92.77% of the stock is currently owned by institutional investors.
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. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
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