Alamo Group Inc. (NYSE:ALG) Declares Dividend Increase – $0.14 Per Share

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Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Monday, January 4th, Zacks reports. Stockholders of record on Tuesday, January 19th will be given a dividend of 0.14 per share by the industrial products company on Friday, January 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Friday, January 15th. This is a boost from Alamo Group’s previous quarterly dividend of $0.13.

Alamo Group has increased its dividend payment by 30.0% over the last three years and has increased its dividend annually for the last 1 consecutive years. Alamo Group has a dividend payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Alamo Group to earn $7.27 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 7.7%.

Shares of ALG opened at $148.32 on Thursday. The company has a current ratio of 3.60, a quick ratio of 2.05 and a debt-to-equity ratio of 0.59. Alamo Group has a 12-month low of $70.99 and a 12-month high of $154.63. The firm has a 50-day moving average price of $138.49 and a 200 day moving average price of $119.24. The firm has a market capitalization of $1.76 billion, a P/E ratio of 30.21, a P/E/G ratio of 1.99 and a beta of 0.96.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, November 2nd. The industrial products company reported $1.74 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.43. The company had revenue of $291.76 million for the quarter. Alamo Group had a net margin of 4.95% and a return on equity of 10.91%. Equities research analysts predict that Alamo Group will post 5.54 earnings per share for the current fiscal year.

In related news, VP Janet S. Pollock sold 289 shares of the business’s stock in a transaction dated Monday, December 28th. The shares were sold at an average price of $140.36, for a total value of $40,564.04. Following the completion of the transaction, the vice president now owns 1,473 shares of the company’s stock, valued at approximately $206,750.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.07% of the company’s stock.

Several brokerages have commented on ALG. Sidoti increased their price target on shares of Alamo Group from $136.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, October 9th. Zacks Investment Research lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, January 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $131.67.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-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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