Alamo Group Inc. Declares Quarterly Dividend of $0.30 (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Tuesday, April 1st, RTT News reports. Stockholders of record on Wednesday, April 16th will be paid a dividend of 0.30 per share by the industrial products company on Tuesday, April 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%.

Alamo Group has raised its dividend payment by an average of 21.6% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Alamo Group has a dividend payout ratio of 10.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alamo Group to earn $11.27 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 10.6%.

Alamo Group Trading Up 0.9 %

ALG traded up $1.54 during trading on Tuesday, reaching $179.75. The company had a trading volume of 71,943 shares, compared to its average volume of 89,825. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. Alamo Group has a 12-month low of $163.74 and a 12-month high of $227.22. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 18.10 and a beta of 1.10. The firm’s 50-day simple moving average is $184.83 and its 200 day simple moving average is $184.95.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 million. Equities research analysts anticipate that Alamo Group will post 9.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ALG shares. Robert W. Baird lowered Alamo Group from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $224.00 to $177.00 in a report on Friday, February 28th. Baird R W lowered Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. DA Davidson decreased their price target on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research note on Monday, March 3rd.

Alamo Group Company Profile

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.