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

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Thursday, October 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.26 per share by the industrial products company on Monday, October 28th. This represents a $1.04 annualized dividend 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% annually over the last three years. Alamo Group has a 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 Down 1.5 %

Alamo Group stock traded down $2.66 during midday trading on Thursday, reaching $171.97. The stock had a trading volume of 27,603 shares, compared to its average volume of 73,485. The firm’s fifty day simple moving average is $179.29 and its 200-day simple moving average is $188.35. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. 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 $2.07 billion, a P/E ratio of 15.31 and a beta of 1.07.

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

Analyst Ratings Changes

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

Insider Transactions at Alamo Group

In other news, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction that occurred 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 approximately $1,384,421.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,005,138.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.