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

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Shareholders 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 0.60%. The ex-dividend date of this dividend is Tuesday, October 15th.

Alamo Group has raised its dividend payment by an average of 19.2% per year over the last three years. Alamo Group has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Research 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 Alamo Group stock opened at $172.40 on Friday. The firm has a fifty day moving average of $178.90 and a two-hundred day moving average of $188.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.34 and a beta of 1.07. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40.

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

Insider Transactions at Alamo Group

In related news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ALG has been the topic of a number of analyst reports. Robert W. Baird cut their price target on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. DA Davidson upped their target price on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

About Alamo Group

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.