Alamo Group Inc. (NYSE:ALG) to Issue Quarterly Dividend of $0.30

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Thursday, January 16th will be given a dividend of 0.30 per share by the industrial products company on Wednesday, January 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26.

Alamo Group has raised its dividend by an average of 22.9% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Alamo Group has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Alamo Group to earn $11.27 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 10.6%.

Alamo Group Stock Up 1.8 %

Alamo Group stock opened at $175.98 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a fifty-two week low of $163.74 and a fifty-two week high of $231.40. The firm has a fifty day moving average price of $191.34 and a two-hundred day moving average price of $182.30. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 17.72 and a beta of 1.11.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the sale, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. This represents a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the transaction, the vice president now directly owns 3,360 shares of the company’s stock, valued at $649,857.60. This represents a 7.11 % 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.

Analyst Ratings Changes

Separately, Robert W. Baird upped their price target on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th.

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.