Alamo Group, Inc. (ALG) to Issue Quarterly Dividend of $0.30 on October 28th

Alamo Group, Inc. (NYSE:ALG) announced a quarterly dividend on Wednesday, October 1st, RTT News reports. Shareholders of record on Wednesday, October 15th will be paid a dividend of 0.30 per share by the industrial products company on Tuesday, October 28th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, October 15th.

Alamo Group has a dividend payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NYSE:ALG opened at $182.25 on Monday. The firm’s 50-day moving average is $207.79 and its 200-day moving average is $201.32. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 0.95 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. Alamo Group has a 52-week low of $157.07 and a 52-week high of $233.29.

Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The firm had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. Equities research analysts anticipate that Alamo Group will post 9.53 earnings per share for the current year.

Insiders Place Their Bets

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares of the company’s stock, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alamo Group

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Alamo Group by 6.6% in the first quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company’s stock valued at $137,039,000 after acquiring an additional 47,819 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 4.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company’s stock valued at $125,732,000 after purchasing an additional 26,835 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Alamo Group by 12.9% in the 1st quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company’s stock valued at $90,320,000 after purchasing an additional 58,097 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of Alamo Group by 22.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company’s stock worth $71,437,000 after buying an additional 74,679 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Alamo Group by 28.6% during the second quarter. First Trust Advisors LP now owns 384,190 shares of the industrial products company’s stock worth $83,899,000 after buying an additional 85,478 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

About Alamo Group

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.