Alamo Group Inc. Announces Quarterly Dividend of $0.26 (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Investors of record on Tuesday, October 15th will be paid a dividend of 0.26 per share by the industrial products company on Monday, October 28th. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, October 15th.

Alamo Group has increased its dividend by an average of 19.2% per year over the last three years. Alamo Group has a dividend payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alamo Group to earn $12.64 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 8.2%.

Alamo Group Stock Performance

Shares of ALG stock opened at $177.01 on Friday. The stock has a fifty day moving average of $177.17 and a 200 day moving average of $186.53. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 15.75 and a beta of 1.06. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The firm had revenue of $416.30 million during the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same period last year, the business posted $3.03 EPS. As a group, research analysts expect that Alamo Group will post 10.23 earnings per share for the current year.

Insider Activity

In other news, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction of $57,409.38. Following the completion of the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALG shares. DA Davidson increased their price objective on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird decreased their price objective on Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a report on Friday, August 2nd.

Alamo Group Company Profile

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.