Alamo Group, Inc. (NYSE:ALG) Announces Quarterly Dividend of $0.12

Alamo Group, Inc. (NYSE:ALG) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Investors of record on Tuesday, October 15th will be given a dividend of 0.12 per share by the industrial products company on Monday, October 28th. This represents a $0.48 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, October 11th.

Alamo Group has increased its dividend by an average of 11.2% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Alamo Group has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alamo Group to earn $7.37 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 6.5%.

Shares of NYSE ALG traded down $1.91 during trading on Thursday, hitting $114.70. The company had a trading volume of 4,841 shares, compared to its average volume of 79,093. The stock has a fifty day simple moving average of $115.00 and a two-hundred day simple moving average of $103.57. Alamo Group has a fifty-two week low of $72.50 and a fifty-two week high of $124.68. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.82 and a beta of 0.75. The company has a quick ratio of 2.82, a current ratio of 4.58 and a debt-to-equity ratio of 0.31.

Alamo Group (NYSE:ALG) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.67 earnings per share (EPS) for the quarter. Alamo Group had a net margin of 7.17% and a return on equity of 13.85%. The business had revenue of $285.19 million for the quarter. On average, analysts anticipate that Alamo Group will post 6.46 earnings per share for the current year.

In other news, EVP Jeffery Allen Leonard sold 1,000 shares of Alamo Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $106.18, for a total value of $106,180.00. Following the sale, the executive vice president now owns 14,900 shares in the company, valued at $1,582,082. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dan Edward Malone sold 1,299 shares of Alamo Group stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $108.77, for a total transaction of $141,292.23. Following the completion of the sale, the vice president now owns 16,750 shares in the company, valued at approximately $1,821,897.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,645 shares of company stock worth $394,547. Company insiders own 3.29% of the company’s stock.

Several brokerages have recently issued reports on ALG. Sidoti lifted their target price on shares of Alamo Group from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Dougherty & Co began coverage on shares of Alamo Group in a research report on Tuesday, August 27th. They issued a “neutral” rating on the stock.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-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.

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Dividend History for Alamo Group (NYSE:ALG)

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