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

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

Alamo Group has increased its dividend by an average of 19.2% per year over the last three years. Alamo Group has a dividend 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 1.3 %

Shares of ALG stock traded down $2.23 on Thursday, hitting $172.40. The stock had a trading volume of 45,573 shares, compared to its average volume of 73,595. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The business has a 50 day moving average price of $179.29 and a 200 day moving average price of $188.35. The company has a market cap of $2.08 billion, a PE ratio of 15.31 and a beta of 1.07.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) 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 net margin of 7.56% and a return on equity of 13.51%. During the same quarter in the previous year, the company posted $3.03 EPS. Research analysts anticipate that Alamo Group will post 10.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group 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 sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the company’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 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 disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

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.