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

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Thursday, October 3rd, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, October 15th.

Alamo Group has increased its dividend payment by an average of 19.2% annually 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 Price Performance

Shares of NYSE ALG traded down $2.66 during midday trading on Thursday, reaching $171.97. The company’s stock had a trading volume of 27,603 shares, compared to its average volume of 73,485. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 15.31 and a beta of 1.07. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $179.29 and a 200 day moving average price of $188.35.

Alamo Group (NYSE:ALG) last posted 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). The firm had revenue of $416.30 million during the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same period last year, the company earned $3.03 earnings per share. On average, equities research analysts expect that Alamo Group will post 10.23 EPS for the current year.

Analyst Ratings Changes

ALG has been the subject of several recent research reports. Robert W. Baird cut their price objective on Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. DA Davidson boosted their price target on 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 downgraded 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 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 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. In related news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction 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 owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. 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.