Alamo Group, Inc. (NYSE:ALG) Plans Quarterly Dividend of $0.34

Alamo Group, Inc. (NYSE:ALG) announced a quarterly dividend on Thursday, October 1st. Investors of record on Thursday, October 15th will be given a dividend of $0.34 per share by the industrial products company on Wednesday, October 28th. This represents a $1.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 15th.

Alamo Group has increased its dividend by an average of 0.2%annually 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. Analysts expect Alamo Group to earn $12.30 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 11.1%.

Alamo Group Stock Performance

Shares of ALG opened at $156.27 on Friday. Alamo Group has a one year low of $145.76 and a one year high of $219.88. The firm has a market capitalization of $1.90 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.08. The company has a 50-day simple moving average of $164.98 and a two-hundred day simple moving average of $163.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48.

Alamo Group (NYSE:ALG) last released its earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08. The firm had revenue of $450.73 million for the quarter, compared to the consensus estimate of $437.48 million. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. On average, analysts anticipate that Alamo Group will post 10.52 EPS for the current fiscal year.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 2,715 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the sale, the executive vice president directly owned 8,142 shares of the company’s stock, valued at $1,338,626.22. This represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alamo Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC acquired a new position in shares of Alamo Group during the second quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new stake in Alamo Group during the 2nd quarter worth about $25,000. Global Retirement Partners LLC acquired a new position in shares of Alamo Group in the second quarter valued at about $35,000. Hantz Financial Services Inc. raised its stake in shares of Alamo Group by 861.5% in the fourth quarter. Hantz Financial Services Inc. now owns 500 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 448 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of Alamo Group during the second quarter worth about $99,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

About Alamo Group

Alamo Group Inc (NYSE: ALG) is an industrial equipment manufacturer that designs, produces and services equipment used in vegetation management, infrastructure maintenance and agricultural applications. The company serves municipalities, government agencies, contractors, utility companies, agricultural operators and other commercial customers.

Its product portfolio includes mowing and brush-cutting equipment, roadside and right-of-way maintenance machinery, tree-care equipment, excavators, street sweepers, snow-removal equipment and agricultural implements.