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

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Tuesday, July 2nd, Wall Street Journal reports. Investors of record on Tuesday, July 16th will be paid a dividend of 0.26 per share by the industrial products company on Monday, July 29th. This represents a $1.04 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Tuesday, July 16th.

Alamo Group has raised its dividend by an average of 19.2% per year over the last three years. Alamo Group has a payout ratio of 7.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Alamo Group to earn $13.53 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 7.7%.

Alamo Group Trading Up 0.3 %

NYSE ALG traded up $0.58 during trading on Tuesday, reaching $168.03. 84,288 shares of the stock traded hands, compared to its average volume of 72,271. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 14.84 and a beta of 1.04. The stock’s 50-day moving average price is $188.03 and its 200 day moving average price is $202.38. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. The firm had revenue of $425.59 million during the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same quarter in the prior year, the firm posted $2.79 EPS. Analysts predict that Alamo Group will post 12.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. DA Davidson cut their price target on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th.

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.