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

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Tuesday, April 1st, RTT News reports. Shareholders 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 annualized dividend and a yield of 0.67%.

Alamo Group has increased its dividend payment by an average of 21.6% annually 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. 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 Alamo Group stock traded up $1.54 during trading on Tuesday, hitting $179.75. 71,943 shares of the stock were exchanged, compared to its average volume of 89,825. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. Alamo Group has a 12 month low of $163.74 and a 12 month high of $227.22. The stock’s fifty day moving average is $184.83 and its 200 day moving average is $184.95. The stock has a market cap of $2.17 billion, a PE ratio of 18.10 and a beta of 1.10.

Alamo Group (NYSE:ALG) last posted its 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 analysts’ expectations of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. As a group, sell-side analysts anticipate that Alamo Group will post 9.53 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.