Alamo Group Inc. (ALG) to Issue Quarterly Dividend of $0.30 on April 29th

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Tuesday, April 1st, RTT News reports. Investors of record on Wednesday, April 16th will be given a dividend of 0.30 per share by the industrial products company on Tuesday, April 29th. This represents a $1.20 annualized dividend and a yield of 0.66%.

Alamo Group has increased its dividend payment by an average of 21.6% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Alamo Group has a payout ratio of 10.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 1.2 %

NYSE ALG opened at $181.81 on Thursday. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. Alamo Group has a 52 week low of $163.74 and a 52 week high of $224.02. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 18.31 and a beta of 1.10. The company has a fifty day moving average of $184.67 and a two-hundred day moving average of $184.93.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping 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 firm had revenue of $385.32 million during the quarter, compared to analysts’ expectations of $396.85 million. On average, analysts predict that Alamo Group will post 9.53 earnings per share for the current year.

Analyst Ratings Changes

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