Intrinsic value of Alamo Group - ALG

Previous Close

$86.50

  Intrinsic Value

$330.15

stock screener

  Rating & Target

str. buy

+282%

Previous close

$86.50

 
Intrinsic value

$330.15

 
Up/down potential

+282%

 
Rating

str. buy

We calculate the intrinsic value of ALG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.60
  19.04
  17.64
  16.37
  15.24
  14.21
  13.29
  12.46
  11.72
  11.04
  10.44
  9.90
  9.41
  8.97
  8.57
  8.21
  7.89
  7.60
  7.34
  7.11
  6.90
  6.71
  6.54
  6.38
  6.24
  6.12
  6.01
  5.91
  5.82
  5.73
Revenue, $m
  1,100
  1,310
  1,541
  1,793
  2,066
  2,360
  2,674
  3,007
  3,359
  3,730
  4,119
  4,527
  4,953
  5,397
  5,859
  6,340
  6,841
  7,361
  7,901
  8,463
  9,046
  9,653
  10,284
  10,940
  11,624
  12,335
  13,076
  13,848
  14,654
  15,494
Variable operating expenses, $m
  759
  900
  1,057
  1,228
  1,412
  1,611
  1,824
  2,049
  2,288
  2,539
  2,788
  3,064
  3,353
  3,653
  3,966
  4,292
  4,631
  4,983
  5,348
  5,729
  6,124
  6,534
  6,961
  7,406
  7,868
  8,350
  8,851
  9,374
  9,919
  10,488
Fixed operating expenses, $m
  201
  206
  210
  215
  220
  224
  229
  234
  240
  245
  250
  256
  261
  267
  273
  279
  285
  291
  298
  304
  311
  318
  325
  332
  339
  347
  355
  362
  370
  378
Total operating expenses, $m
  960
  1,106
  1,267
  1,443
  1,632
  1,835
  2,053
  2,283
  2,528
  2,784
  3,038
  3,320
  3,614
  3,920
  4,239
  4,571
  4,916
  5,274
  5,646
  6,033
  6,435
  6,852
  7,286
  7,738
  8,207
  8,697
  9,206
  9,736
  10,289
  10,866
Operating income, $m
  140
  204
  274
  351
  434
  524
  621
  723
  832
  946
  1,081
  1,207
  1,339
  1,476
  1,620
  1,769
  1,925
  2,087
  2,255
  2,430
  2,612
  2,801
  2,998
  3,203
  3,416
  3,638
  3,870
  4,112
  4,364
  4,628
EBITDA, $m
  172
  238
  312
  393
  481
  576
  677
  785
  900
  1,020
  1,147
  1,279
  1,418
  1,563
  1,714
  1,871
  2,035
  2,205
  2,382
  2,566
  2,757
  2,956
  3,163
  3,378
  3,603
  3,836
  4,080
  4,334
  4,599
  4,876
Interest expense (income), $m
  6
  4
  7
  11
  14
  18
  22
  27
  32
  37
  42
  48
  54
  60
  67
  74
  81
  88
  96
  104
  113
  121
  130
  140
  149
  160
  170
  181
  193
  204
  217
Earnings before tax, $m
  136
  196
  263
  336
  416
  502
  594
  692
  795
  904
  1,033
  1,153
  1,278
  1,410
  1,546
  1,688
  1,837
  1,991
  2,151
  2,317
  2,490
  2,671
  2,858
  3,053
  3,256
  3,468
  3,689
  3,919
  4,160
  4,411
Tax expense, $m
  37
  53
  71
  91
  112
  136
  160
  187
  215
  244
  279
  311
  345
  381
  417
  456
  496
  537
  581
  626
  672
  721
  772
  824
  879
  936
  996
  1,058
  1,123
  1,191
Net income, $m
  99
  143
  192
  246
  304
  366
  433
  505
  580
  660
  754
  842
  933
  1,029
  1,129
  1,233
  1,341
  1,453
  1,570
  1,692
  1,818
  1,949
  2,086
  2,229
  2,377
  2,532
  2,693
  2,861
  3,037
  3,220

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  772
  919
  1,081
  1,257
  1,449
  1,655
  1,875
  2,109
  2,356
  2,616
  2,889
  3,175
  3,473
  3,785
  4,109
  4,446
  4,797
  5,162
  5,541
  5,935
  6,344
  6,769
  7,212
  7,672
  8,151
  8,650
  9,170
  9,711
  10,276
  10,866
Adjusted assets (=assets-cash), $m
  772
  919
  1,081
  1,257
  1,449
  1,655
  1,875
  2,109
  2,356
  2,616
  2,889
  3,175
  3,473
  3,785
  4,109
  4,446
  4,797
  5,162
  5,541
  5,935
  6,344
  6,769
  7,212
  7,672
  8,151
  8,650
  9,170
  9,711
  10,276
  10,866
Revenue / Adjusted assets
  1.425
  1.425
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
  1.426
Average production assets, $m
  201
  240
  282
  328
  378
  432
  489
  550
  615
  683
  754
  828
  906
  988
  1,072
  1,160
  1,252
  1,347
  1,446
  1,549
  1,655
  1,767
  1,882
  2,002
  2,127
  2,257
  2,393
  2,534
  2,682
  2,835
Working capital, $m
  321
  382
  450
  524
  603
  689
  781
  878
  981
  1,089
  1,203
  1,322
  1,446
  1,576
  1,711
  1,851
  1,997
  2,149
  2,307
  2,471
  2,642
  2,819
  3,003
  3,195
  3,394
  3,602
  3,818
  4,044
  4,279
  4,524
Total debt, $m
  99
  143
  192
  244
  301
  363
  428
  498
  571
  649
  730
  816
  905
  997
  1,094
  1,195
  1,299
  1,408
  1,521
  1,638
  1,760
  1,887
  2,019
  2,156
  2,299
  2,447
  2,602
  2,763
  2,932
  3,107
Total liabilities, $m
  230
  274
  322
  375
  432
  493
  559
  628
  702
  779
  861
  946
  1,035
  1,128
  1,224
  1,325
  1,430
  1,538
  1,651
  1,768
  1,890
  2,017
  2,149
  2,286
  2,429
  2,578
  2,733
  2,894
  3,062
  3,238
Total equity, $m
  542
  645
  759
  883
  1,017
  1,162
  1,316
  1,480
  1,654
  1,836
  2,028
  2,229
  2,438
  2,657
  2,884
  3,121
  3,368
  3,624
  3,890
  4,166
  4,453
  4,752
  5,063
  5,386
  5,722
  6,072
  6,437
  6,817
  7,214
  7,628
Total liabilities and equity, $m
  772
  919
  1,081
  1,258
  1,449
  1,655
  1,875
  2,108
  2,356
  2,615
  2,889
  3,175
  3,473
  3,785
  4,108
  4,446
  4,798
  5,162
  5,541
  5,934
  6,343
  6,769
  7,212
  7,672
  8,151
  8,650
  9,170
  9,711
  10,276
  10,866
Debt-to-equity ratio
  0.180
  0.220
  0.250
  0.280
  0.300
  0.310
  0.330
  0.340
  0.350
  0.350
  0.360
  0.370
  0.370
  0.380
  0.380
  0.380
  0.390
  0.390
  0.390
  0.390
  0.400
  0.400
  0.400
  0.400
  0.400
  0.400
  0.400
  0.410
  0.410
  0.410
Adjusted equity ratio
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702
  0.702

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  99
  143
  192
  246
  304
  366
  433
  505
  580
  660
  754
  842
  933
  1,029
  1,129
  1,233
  1,341
  1,453
  1,570
  1,692
  1,818
  1,949
  2,086
  2,229
  2,377
  2,532
  2,693
  2,861
  3,037
  3,220
Depreciation, amort., depletion, $m
  31
  35
  38
  43
  47
  52
  57
  62
  68
  74
  66
  73
  80
  87
  94
  102
  110
  118
  127
  136
  145
  155
  165
  176
  187
  198
  210
  222
  235
  249
Funds from operations, $m
  131
  178
  231
  288
  351
  418
  490
  567
  648
  734
  820
  914
  1,013
  1,116
  1,223
  1,334
  1,450
  1,571
  1,697
  1,827
  1,963
  2,104
  2,251
  2,404
  2,564
  2,730
  2,903
  3,083
  3,272
  3,468
Change in working capital, $m
  55
  61
  67
  74
  80
  86
  92
  97
  103
  108
  114
  119
  124
  130
  135
  140
  146
  152
  158
  164
  170
  177
  184
  192
  199
  208
  216
  226
  235
  245
Cash from operations, $m
  76
  117
  163
  215
  271
  332
  399
  470
  545
  625
  706
  795
  888
  986
  1,088
  1,194
  1,304
  1,419
  1,539
  1,663
  1,793
  1,927
  2,067
  2,213
  2,364
  2,522
  2,687
  2,858
  3,037
  3,223
Maintenance CAPEX, $m
  -15
  -18
  -21
  -25
  -29
  -33
  -38
  -43
  -48
  -54
  -60
  -66
  -73
  -80
  -87
  -94
  -102
  -110
  -118
  -127
  -136
  -145
  -155
  -165
  -176
  -187
  -198
  -210
  -222
  -235
New CAPEX, $m
  -34
  -38
  -42
  -46
  -50
  -54
  -57
  -61
  -64
  -68
  -71
  -75
  -78
  -81
  -85
  -88
  -92
  -95
  -99
  -103
  -107
  -111
  -115
  -120
  -125
  -130
  -136
  -141
  -147
  -154
Cash from investing activities, $m
  -49
  -56
  -63
  -71
  -79
  -87
  -95
  -104
  -112
  -122
  -131
  -141
  -151
  -161
  -172
  -182
  -194
  -205
  -217
  -230
  -243
  -256
  -270
  -285
  -301
  -317
  -334
  -351
  -369
  -389
Free cash flow, $m
  27
  61
  100
  144
  192
  245
  303
  366
  432
  504
  575
  654
  738
  825
  916
  1,012
  1,111
  1,214
  1,322
  1,434
  1,550
  1,671
  1,797
  1,928
  2,064
  2,205
  2,353
  2,507
  2,667
  2,834
Issuance/(repayment) of debt, $m
  39
  44
  48
  53
  57
  61
  66
  70
  74
  78
  81
  85
  89
  93
  97
  101
  105
  109
  113
  117
  122
  127
  132
  137
  143
  149
  155
  161
  168
  176
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  39
  44
  48
  53
  57
  61
  66
  70
  74
  78
  81
  85
  89
  93
  97
  101
  105
  109
  113
  117
  122
  127
  132
  137
  143
  149
  155
  161
  168
  176
Total cash flow (excl. dividends), $m
  66
  105
  148
  196
  249
  307
  369
  435
  506
  581
  656
  740
  827
  918
  1,013
  1,112
  1,216
  1,323
  1,435
  1,551
  1,672
  1,798
  1,929
  2,065
  2,206
  2,354
  2,508
  2,668
  2,835
  3,010
Retained Cash Flow (-), $m
  -93
  -103
  -114
  -124
  -134
  -145
  -154
  -164
  -173
  -183
  -192
  -201
  -210
  -219
  -228
  -237
  -246
  -256
  -266
  -276
  -287
  -299
  -311
  -323
  -336
  -350
  -365
  -380
  -397
  -414
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -26
  2
  34
  72
  115
  162
  214
  271
  333
  398
  465
  539
  617
  699
  785
  875
  969
  1,067
  1,169
  1,275
  1,385
  1,499
  1,618
  1,742
  1,870
  2,004
  2,143
  2,288
  2,439
  2,596
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -25
  1
  30
  59
  89
  118
  145
  170
  191
  209
  221
  230
  235
  235
  231
  222
  211
  197
  180
  162
  143
  124
  106
  89
  73
  58
  46
  35
  27
  20
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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. As of December 31, 2016, the Company operated 24 plants in North America, Europe, Australia and Brazil. The Company sells its products through a network of independent dealers and distributors to Governmental end users, related independent contractors, as well as to the agricultural and commercial turf markets. It also offers replacement parts for each of its wholegoods lines. The Company's products are sold through various marketing organizations, and dealer and distributor networks.

FINANCIAL RATIOS  of  Alamo Group (ALG)

Valuation Ratios
P/E Ratio 24.7
Price to Sales 1.2
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 13
Price to Free Cash Flow 15
Growth Rates
Sales Growth Rate -4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -33.3%
Cap. Spend. - 3 Yr. Gr. Rate -6.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 18%
Total Debt to Equity 18%
Interest Coverage 11
Management Effectiveness
Return On Assets 7.6%
Ret/ On Assets - 3 Yr. Avg. 7.8%
Return On Total Capital 8.3%
Ret/ On T. Cap. - 3 Yr. Avg. 8.7%
Return On Equity 10.7%
Return On Equity - 3 Yr. Avg. 11.6%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 24.3%
Gross Margin - 3 Yr. Avg. 23.2%
EBITDA Margin 10.5%
EBITDA Margin - 3 Yr. Avg. 10.2%
Operating Margin 8%
Oper. Margin - 3 Yr. Avg. 7.7%
Pre-Tax Margin 7.3%
Pre-Tax Margin - 3 Yr. Avg. 7.4%
Net Profit Margin 4.7%
Net Profit Margin - 3 Yr. Avg. 4.8%
Effective Tax Rate 35.5%
Eff/ Tax Rate - 3 Yr. Avg. 34.7%
Payout Ratio 10%

ALG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ALG stock intrinsic value calculation we used $912.38 million for the last fiscal year's total revenue generated by Alamo Group. The default revenue input number comes from 0001 income statement of Alamo Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ALG stock valuation model: a) initial revenue growth rate of 20.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ALG is calculated based on our internal credit rating of Alamo Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Alamo Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ALG stock the variable cost ratio is equal to 69.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $197 million in the base year in the intrinsic value calculation for ALG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.4% for Alamo Group.

Corporate tax rate of 27% is the nominal tax rate for Alamo Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ALG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ALG are equal to 18.3%.

Life of production assets of 11.4 years is the average useful life of capital assets used in Alamo Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ALG is equal to 29.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $449.108 million for Alamo Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 11.728 million for Alamo Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Alamo Group at the current share price and the inputted number of shares is $1.0 billion.

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COMPANY NEWS

▶ Alamo Group Inc. Declares Regular Quarterly Dividend   [Oct-01-18 04:15PM  PR Newswire]
▶ Is Alamo Group Inc (NYSE:ALG) A Strong Capital Goods Bet?   [Sep-10-18 10:34AM  Simply Wall St.]
▶ U.S. Manufacturing Logs Best Gain in 14 Years: 5 Top Picks   [Sep-05-18 11:52AM  InvestorPlace]
▶ Should You Buy Alamo Group Inc (NYSE:ALG)?   [Aug-19-18 10:57AM  Simply Wall St.]
▶ Alamo Group breaks company earnings records despite Trump tariffs   [Aug-02-18 07:00AM  American City Business Journals]
▶ Alamo Group: 2Q Earnings Snapshot   [Aug-01-18 07:09PM  Associated Press]
▶ Alamo Group Inc. Declares Regular Quarterly Dividend   [Jul-02-18 04:15PM  PR Newswire]
▶ From tax reform to trade wars, San Antonio public companies show resilience   [Jun-21-18 03:57PM  American City Business Journals]
▶ Alamo Group Announces New Chairman Of The Board   [May-03-18 04:15PM  PR Newswire]
▶ Alamo Group: 1Q Earnings Snapshot   [08:34AM  Associated Press]
▶ Settlement Of Strike At Gradall Industries, Inc.   [Apr-06-18 08:00AM  PR Newswire]
▶ Alamo Group Inc. Declares Regular Quarterly Dividend   [Apr-02-18 04:15PM  PR Newswire]
▶ Alamo Group Inc. to Host Earnings Call   [09:00AM  ACCESSWIRE]
▶ Alamo Group posts 4Q profit   [Mar-01-18 06:54PM  Associated Press]
▶ New Strong Buy Stocks for December 19th   [Dec-19-17 10:05AM  Zacks]
▶ New Strong Buy Stocks for December 4th   [Dec-04-17 09:42AM  Zacks]
▶ Alamo Group reports record profit following three acquisitions (slideshow)   [Nov-07-17 11:50AM  American City Business Journals]
▶ Alamo Group stock soars to record highs   [11:38AM  American City Business Journals]
▶ Alamo Group posts 3Q profit   [Oct-31-17 05:19PM  Associated Press]
▶ ETFs with exposure to Alamo Group, Inc. : October 3, 2017   [Oct-03-17 10:50AM  Capital Cube]
▶ Alamo Group Inc. Declares Regular Quarterly Dividend   [Oct-02-17 08:00AM  PR Newswire]

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