Alamo Group Inc. Announces Quarterly Dividend of $0.26 (NYSE:ALG)

Alamo Group Inc. (NYSE:ALGGet Free Report) declared a quarterly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Tuesday, April 16th will be given a dividend of 0.26 per share by the industrial products company on Monday, April 29th. This represents a $1.04 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, April 15th.

Alamo Group has raised its dividend by an average of 19.2% per year over the last three years and has raised its dividend every year for the last 5 years. Alamo Group has a dividend payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alamo Group to earn $13.76 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 7.6%.

Alamo Group Stock Up 0.8 %

ALG stock traded up $1.67 during trading on Wednesday, hitting $216.88. 5,500 shares of the company’s stock were exchanged, compared to its average volume of 70,879. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 18.94 and a beta of 1.04. Alamo Group has a 52-week low of $157.74 and a 52-week high of $231.40. The company has a current ratio of 3.76, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $211.81 and a two-hundred day moving average price of $195.02.

Alamo Group (NYSE:ALGGet Free Report) last posted its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. The firm had revenue of $417.54 million for the quarter. As a group, equities research analysts expect that Alamo Group will post 13.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALG. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. DA Davidson raised their price objective on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

View Our Latest Analysis on ALG

Insider Transactions at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of Alamo Group stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the sale, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in shares of Alamo Group by 277.8% in the 4th quarter. Morgan Stanley now owns 278,133 shares of the industrial products company’s stock worth $39,384,000 after acquiring an additional 204,507 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Alamo Group by 8.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock valued at $96,065,000 after purchasing an additional 53,730 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Alamo Group by 317.7% in the second quarter. Goldman Sachs Group Inc. now owns 59,710 shares of the industrial products company’s stock valued at $6,952,000 after buying an additional 45,416 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Alamo Group by 4.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock worth $100,603,000 after buying an additional 36,290 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Alamo Group during the 2nd quarter worth $5,646,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

About Alamo Group

(Get Free Report)

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.

See Also

Dividend History for Alamo Group (NYSE:ALG)

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