Alamo Group Inc. (NYSE:ALG) Raises Dividend to $0.30 Per Share

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Thursday, January 16th will be paid 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 dividend yield of 0.67%. This is an increase from Alamo Group’s previous quarterly dividend of $0.26.

Alamo Group has raised its dividend by an average of 19.2% per year over the last three years. Alamo Group has a dividend payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Alamo Group stock opened at $180.17 on Friday. The stock’s 50 day moving average is $191.27 and its 200 day moving average is $182.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a one year low of $163.74 and a one year high of $231.40. The firm has a market cap of $2.17 billion, a P/E ratio of 18.14 and a beta of 1.10.

Insider Activity

In related news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at $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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.