Alamo Group Inc. (ALG) to Issue Quarterly Dividend of $0.26 on April 29th

Alamo Group Inc. (NYSE:ALGGet Free Report) declared a quarterly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Tuesday, April 16th will be paid a dividend of 0.26 per share by the industrial products company on Monday, April 29th. This represents a $1.04 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, April 15th.

Alamo Group has increased its dividend by an average of 19.2% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Alamo Group has a dividend payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alamo Group to earn $13.76 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 7.6%.

Alamo Group Stock Performance

Alamo Group stock traded up $0.37 during mid-day trading on Wednesday, hitting $215.58. 6,646 shares of the company’s stock traded hands, compared to its average volume of 70,891. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 18.94 and a beta of 1.04. The firm has a 50 day simple moving average of $211.81 and a two-hundred day simple moving average of $195.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99.

Alamo Group (NYSE:ALGGet Free Report) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). The business had revenue of $417.54 million during the quarter. Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. On average, research analysts expect that Alamo Group will post 13.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the transaction, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alamo Group

Several hedge funds and other institutional investors have recently bought and sold shares of ALG. Tower Research Capital LLC TRC raised its holdings in shares of Alamo Group by 33.5% in the second quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 68 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Alamo Group by 5,380.0% in the first quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 269 shares in the last quarter. FMR LLC increased its position in shares of Alamo Group by 17.4% during the second quarter. FMR LLC now owns 701 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 104 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Alamo Group by 131.2% during the fourth quarter. Point72 Asset Management L.P. now owns 800 shares of the industrial products company’s stock worth $168,000 after acquiring an additional 454 shares during the period. Finally, Captrust Financial Advisors boosted its position in Alamo Group by 30.1% in the first quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 223 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. DA Davidson raised their target price on shares of Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

View Our Latest Analysis on Alamo Group

Alamo Group Company Profile

(Get Free Report)

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.

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Dividend History for Alamo Group (NYSE:ALG)

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