Alamo Group Inc. (ALG) Declares Quarterly Dividend of $0.09
Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Monday, October 3rd. Stockholders of record on Friday, October 14th will be given a dividend of 0.09 per share on Friday, October 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, October 12th.
Shares of Alamo Group (NYSE:ALG) opened at 66.01 on Tuesday. The stock has a 50 day moving average price of $64.79 and a 200-day moving average price of $61.52. Alamo Group has a 52-week low of $43.98 and a 52-week high of $68.04. The stock has a market capitalization of $758.98 million, a price-to-earnings ratio of 16.76 and a beta of 0.92.
Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, August 4th. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by $0.09. Alamo Group had a return on equity of 12.34% and a net margin of 5.16%. The company earned $211.50 million during the quarter, compared to the consensus estimate of $219.74 million. On average, equities research analysts predict that Alamo Group will post $3.82 EPS for the current fiscal year.
A number of equities analysts have weighed in on ALG shares. Zacks Investment Research downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $70.00 target price (up from $68.00) on shares of Alamo Group in a research note on Wednesday, August 10th.
In other news, VP Geoff Davies sold 5,000 shares of Alamo Group stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $65.87, for a total transaction of $329,350.00. Following the completion of the sale, the vice president now owns 17,500 shares in the company, valued at approximately $1,152,725. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jeffery Allen Leonard sold 2,000 shares of Alamo Group stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $63.03, for a total transaction of $126,060.00. Following the sale, the vice president now owns 5,500 shares of the company’s stock, valued at approximately $346,665. The disclosure for this sale can be found here. Insiders own 3.63% of the company’s stock.
Large investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its stake in shares of Alamo Group by 6.0% in the second quarter. Teachers Advisors Inc. now owns 15,003 shares of the company’s stock valued at $990,000 after buying an additional 855 shares in the last quarter. TFS Capital LLC purchased a new position in shares of Alamo Group during the second quarter worth about $413,000. FMR LLC purchased a new position in shares of Alamo Group during the second quarter worth about $3,514,000. American International Group Inc. boosted its position in shares of Alamo Group by 23.8% in the second quarter. American International Group Inc. now owns 7,012 shares of the company’s stock worth $463,000 after buying an additional 1,346 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Alamo Group by 2.4% in the second quarter. Franklin Resources Inc. now owns 452,300 shares of the company’s stock worth $29,839,000 after buying an additional 10,560 shares in the last quarter. Institutional investors own 92.77% of the company’s stock.
About Alamo Group
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
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