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. Investors 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 annualized dividend and a yield of 0.67%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26.

Alamo Group has raised its dividend payment by an average of 19.2% annually over the last three years. Alamo Group has a dividend payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alamo Group to earn $11.27 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 9.2%.

Alamo Group Trading Down 3.1 %

NYSE:ALG opened at $180.17 on Friday. Alamo Group has a 52 week low of $163.74 and a 52 week high of $231.40. The firm has a 50-day moving average price of $191.27 and a two-hundred day moving average price of $182.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 18.14 and a beta of 1.10.

Wall Street Analyst Weigh In

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

Insider Activity at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the transaction, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the sale, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

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.