Alamo Group Inc. (NYSE:ALG) Declares Quarterly Dividend of $0.26

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Monday, April 1st, Zacks reports. Investors of record on Tuesday, April 16th will be given a dividend of 0.26 per share by the industrial products company on Monday, April 29th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, April 15th.

Alamo Group has increased its dividend payment by an average of 19.2% per year over the last three years and has increased its dividend every year for the last 5 years. Alamo Group has a dividend payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Alamo Group to earn $13.76 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 7.6%.

Alamo Group Trading Down 2.7 %

NYSE ALG opened at $213.89 on Friday. The firm has a market capitalization of $2.58 billion, a P/E ratio of 18.83 and a beta of 1.04. The business has a fifty day simple moving average of $212.48 and a 200 day simple moving average of $197.50. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40. The company has a current ratio of 3.76, a quick ratio of 1.99 and a debt-to-equity ratio of 0.24.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). The company had revenue of $417.54 million during the quarter. Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. On average, analysts predict that Alamo Group will post 13.17 EPS for the current fiscal year.

Analyst Ratings Changes

ALG has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th.

Insider Transactions at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALG. BlackRock Inc. boosted its stake in Alamo Group by 1.7% in the 2nd quarter. BlackRock Inc. now owns 1,688,017 shares of the industrial products company’s stock worth $310,443,000 after purchasing an additional 27,420 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Alamo Group by 4.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock worth $100,603,000 after purchasing an additional 36,290 shares during the period. Vanguard Group Inc. boosted its stake in Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after purchasing an additional 7,121 shares during the period. Victory Capital Management Inc. boosted its stake in Alamo Group by 2.8% in the 4th quarter. Victory Capital Management Inc. now owns 685,079 shares of the industrial products company’s stock worth $97,007,000 after purchasing an additional 18,713 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Alamo Group by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock worth $96,065,000 after purchasing an additional 53,730 shares during the period. Institutional investors own 92.36% of the company’s stock.

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.