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.
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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