Alamo Group, Inc. (ALG) to Issue Quarterly Dividend of $0.34 on July 29th

Alamo Group, Inc. (NYSE:ALG) announced a quarterly dividend on Wednesday, July 1st. Stockholders 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 dividend yield of 0.8%. The ex-dividend date is Thursday, July 16th.

Alamo Group has increased its dividend payment 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. Research 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

Shares of NYSE:ALG opened at $162.06 on Tuesday. The firm’s 50 day moving average price is $157.73 and its 200-day moving average price is $174.49. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.97 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. Alamo Group has a twelve month low of $145.76 and a twelve month high of $233.29.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALG shares. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. DA Davidson reaffirmed a “neutral” rating and issued a $188.00 price objective on shares of Alamo Group in a research note on Wednesday, July 1st. William Blair began coverage on Alamo Group in a research report on Monday, March 16th. They set an “outperform” rating on the stock. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.