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

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Tuesday, July 16th will be given a dividend of 0.26 per share by the industrial products company on Monday, July 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Tuesday, July 16th.

Alamo Group has raised its dividend by an average of 19.2% per year over the last three years. Alamo Group has a dividend payout ratio of 7.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alamo Group to earn $13.53 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 7.7%.

Alamo Group Trading Up 0.1 %

Alamo Group stock opened at $172.92 on Monday. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.38 and a beta of 1.04. The stock has a 50-day moving average price of $182.62 and a 200 day moving average price of $199.84.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.01. The company had revenue of $425.59 million during the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same quarter in the prior year, the business posted $2.79 earnings per share. Sell-side analysts anticipate that Alamo Group will post 12.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ALG shares. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 9th. DA Davidson reduced their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th.

Alamo Group Company Profile

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.