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

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Monday, July 1st, Wall Street Journal reports. Shareholders of record on Tuesday, July 16th will be paid a dividend of 0.26 per share by the industrial products company on Monday, July 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 16th.

Alamo Group has raised its dividend payment by an average of 19.2% annually over the last three years. Alamo Group has a payout ratio of 7.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alamo Group to earn $13.53 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 7.7%.

Alamo Group Trading Up 0.4 %

Shares of NYSE ALG opened at $168.11 on Wednesday. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a market cap of $2.03 billion, a PE ratio of 14.96 and a beta of 1.04. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $187.29 and a two-hundred day moving average of $202.14.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.01. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The business had revenue of $425.59 million during the quarter. During the same period last year, the firm earned $2.79 earnings per share. As a group, equities analysts expect that Alamo Group will post 12.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, May 6th. DA Davidson dropped their price objective on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th.

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.