Alamo Group Inc. (NYSE:ALG) Declares $0.30 Quarterly Dividend

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.66%.

Alamo Group has raised its dividend payment by an average of 21.6% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Alamo Group has a dividend payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NYSE:ALG opened at $181.81 on Thursday. The firm has a 50 day moving average of $184.67 and a 200 day moving average of $184.93. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 18.31 and a beta of 1.10. Alamo Group has a 52 week low of $163.74 and a 52 week high of $224.02.

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 the consensus estimate of $2.23 by $0.16. The firm had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. On average, sell-side analysts predict that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.