Alamo Group, Inc. (NYSE:ALG) declared a quarterly dividend on Tuesday, January 2nd, Zacks reports. Stockholders of record on Tuesday, January 16th will be paid a dividend of 0.11 per share by the industrial products company on Monday, January 29th. This represents a $0.44 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, January 12th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.10.

Alamo Group has increased its dividend payment by an average of 8.7% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Alamo Group has a dividend payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alamo Group to earn $5.05 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 7.9%.

Shares of Alamo Group (ALG) traded down $0.56 during trading hours on Wednesday, hitting $112.31. 64,000 shares of the stock traded hands, compared to its average volume of 56,050. The firm has a market cap of $1,312.95, a PE ratio of 26.93 and a beta of 0.96. The company has a quick ratio of 2.85, a current ratio of 4.48 and a debt-to-equity ratio of 0.28. Alamo Group has a one year low of $70.53 and a one year high of $119.58.

Alamo Group (NYSE:ALG) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.24 by $0.16. The company had revenue of $240.46 million during the quarter, compared to analysts’ expectations of $223.40 million. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. sell-side analysts forecast that Alamo Group will post 4.49 EPS for the current fiscal year.

Several equities research analysts recently issued reports on the stock. ValuEngine lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Piper Jaffray Companies set a $104.00 price target on shares of Alamo Group and gave the company a “buy” rating in a report on Sunday, October 1st. Finally, Zacks Investment Research raised shares of Alamo Group from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alamo Group presently has a consensus rating of “Buy” and an average price target of $105.00.

In related news, EVP Richard Hodges Raborn sold 2,000 shares of Alamo Group stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $223,060.00. Following the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at approximately $501,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.99% of the company’s stock.

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Alamo Group Company Profile

Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.

Dividend History for Alamo Group (NYSE:ALG)

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