Alamo Group Inc. (NYSE:ALG) to Issue Quarterly Dividend of $0.30

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Stockholders of record on Thursday, January 16th will be given a dividend of 0.30 per share by the industrial products company on Wednesday, January 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Alamo Group’s previous quarterly dividend of $0.26.

Alamo Group has raised its dividend by an average of 19.2% annually over the last three years. Alamo Group has a payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Alamo Group to earn $11.27 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 9.2%.

Alamo Group Stock Performance

ALG stock traded down $5.74 during trading hours on Thursday, hitting $180.17. 128,135 shares of the stock were exchanged, compared to its average volume of 78,401. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group has a 12 month low of $163.74 and a 12 month high of $231.40. The company has a 50-day simple moving average of $191.05 and a two-hundred day simple moving average of $182.09. The firm has a market capitalization of $2.17 billion, a P/E ratio of 18.14 and a beta of 1.10.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. This represents a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Edward Rizzuti sold 276 shares of Alamo Group stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the sale, the executive vice president now owns 8,439 shares in the company, valued at approximately $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

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.