Alamo Group Inc. (NYSE:ALG) Plans Quarterly Dividend of $0.26

Alamo Group Inc. (NYSE:ALGGet Free Report) declared a quarterly dividend on Monday, April 1st, Zacks reports. Investors 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 is Monday, April 15th.

Alamo Group has increased its dividend by an average of 19.2% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Alamo Group has a payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. 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 Up 1.2 %

Shares of ALG traded up $2.56 on Wednesday, hitting $217.77. The company’s stock had a trading volume of 3,372 shares, compared to its average volume of 70,843. The company has a quick ratio of 1.99, a current ratio of 3.76 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $211.81 and its 200-day moving average price is $195.02. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 18.94 and a beta of 1.04.

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

Analyst Ratings Changes

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

View Our Latest Report on ALG

Insider Transactions at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the company’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 transaction of $93,577.66. Following the sale, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently made changes to their positions in ALG. BlackRock Inc. raised its stake in Alamo Group by 1.7% in the 2nd quarter. BlackRock Inc. now owns 1,688,017 shares of the industrial products company’s stock valued at $310,443,000 after acquiring an additional 27,420 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alamo Group by 4.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock valued at $100,603,000 after acquiring an additional 36,290 shares during the period. Vanguard Group Inc. raised its stake in Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after acquiring an additional 7,121 shares during the period. Victory Capital Management Inc. raised its stake in Alamo Group by 2.8% in the 4th quarter. Victory Capital Management Inc. now owns 685,079 shares of the industrial products company’s stock valued at $97,007,000 after acquiring an additional 18,713 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in Alamo Group by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock valued at $96,065,000 after acquiring an additional 53,730 shares during the period. Institutional investors own 92.36% of the company’s stock.

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.

See Also

Dividend History for Alamo Group (NYSE:ALG)

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