Alamo Group, Inc. (ALG) Declares $0.10 Quarterly Dividend
Alamo Group, Inc. (NYSE:ALG) declared a quarterly dividend on Monday, October 2nd, NASDAQ reports. Investors of record on Monday, October 16th will be paid a dividend of 0.10 per share by the industrial products company on Friday, October 27th. This represents a $0.40 annualized dividend and a yield of 0.37%. The ex-dividend date is Friday, October 13th.
Alamo Group has raised its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 2 years. Alamo Group has a payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Alamo Group to earn $4.52 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 8.8%.
Alamo Group (NYSE ALG) opened at 108.89 on Tuesday. The firm has a market cap of $1.27 billion, a P/E ratio of 27.99 and a beta of 0.95. The firm’s 50-day moving average price is $94.88 and its 200-day moving average price is $87.59. Alamo Group has a 1-year low of $58.30 and a 1-year high of $108.90.
Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.05. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. The company had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. Equities research analysts anticipate that Alamo Group will post $4.21 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on ALG shares. Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Wednesday, September 6th. Piper Jaffray Companies set a $104.00 price target on Alamo Group and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, BidaskClub raised Alamo Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $99.33.
In other news, VP Geoff Davies sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $98.16, for a total value of $392,640.00. Following the transaction, the vice president now owns 3,800 shares in the company, valued at $373,008. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard Hodges Raborn sold 364 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the transaction, the executive vice president now owns 4,500 shares in the company, valued at approximately $414,855. The disclosure for this sale can be found here. Corporate insiders own 3.99% of the company’s stock.
Alamo Group Company Profile
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. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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