Alamo Group, Inc. (ALG) to Issue Quarterly Dividend of $0.34 on January 29th

Alamo Group, Inc. (NYSE:ALG) announced a quarterly dividend on Friday, January 2nd. Investors of record on Friday, January 16th will be given a dividend of 0.34 per share by the industrial products company on Thursday, January 29th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, January 16th. This is a 13.3% increase from Alamo Group’s previous quarterly dividend of $0.30.

Alamo Group has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Alamo Group has a dividend payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Equities 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 $1.36 annual dividend with an expected future payout ratio of 12.1%.

Alamo Group Price Performance

Shares of NYSE ALG traded up $1.12 during mid-day trading on Wednesday, reaching $189.98. 14,297 shares of the company traded hands, compared to its average volume of 113,551. Alamo Group has a fifty-two week low of $156.29 and a fifty-two week high of $233.29. The firm has a market cap of $2.30 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.12. The stock has a fifty day simple moving average of $170.16 and a 200-day simple moving average of $193.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.43 and a quick ratio of 2.72.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($0.27). The firm had revenue of $420.04 million for the quarter, compared to analyst estimates of $407.55 million. Alamo Group had a net margin of 7.20% and a return on equity of 11.11%. Equities research analysts anticipate that Alamo Group will post 9.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALG has been the subject of a number of research analyst reports. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a report on Monday, December 29th. DA Davidson decreased their target price on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Wall Street Zen lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.33.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.