Alamo Group, Inc. Announces Quarterly Dividend of $0.34 (NYSE:ALG)

Alamo Group, Inc. (NYSE:ALG) declared a quarterly dividend on Wednesday, July 1st. Shareholders of record on Thursday, July 16th will be given a dividend of 0.34 per share by the industrial products company on Wednesday, July 29th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, July 16th.

Alamo Group has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Alamo Group has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alamo Group to earn $12.14 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 11.2%.

Alamo Group Price Performance

Alamo Group stock opened at $166.28 on Thursday. Alamo Group has a one year low of $145.76 and a one year high of $233.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. The business has a fifty day moving average of $158.55 and a two-hundred day moving average of $175.00. The company has a market cap of $2.02 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. The business had revenue of $417.15 million for the quarter, compared to analysts’ expectations of $398.02 million. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. As a group, analysts predict that Alamo Group will post 10.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ALG shares. DA Davidson reiterated a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research report on Wednesday. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. William Blair started coverage on shares of Alamo Group in a research report on Monday, March 16th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.