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

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Investors of record on Wednesday, April 16th will be paid 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 yield of 0.67%.

Alamo Group has raised its dividend payment by an average of 21.6% annually over the last three years and has increased its dividend every year for the last 13 years. Alamo Group has a payout ratio of 10.6% meaning its dividend is sufficiently covered by earnings. 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 Up 0.9 %

ALG stock opened at $179.75 on Wednesday. The stock has a market cap of $2.17 billion, a P/E ratio of 18.10 and a beta of 1.10. 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 twelve month low of $163.74 and a twelve month high of $224.02. The company’s 50 day moving average is $184.71 and its two-hundred day moving average is $184.95.

Alamo Group (NYSE:ALG) last announced 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. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The firm had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 million. Research analysts expect that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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