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.
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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