Alamo Group Inc. (ALG) to Issue Quarterly Dividend of $0.26 on July 29th

Alamo Group Inc. (NYSE:ALG) announced a quarterly dividend on Monday, July 1st, Wall Street Journal reports. Shareholders of record on Tuesday, July 16th will be paid a dividend of 0.26 per share by the industrial products company on Monday, July 29th. This represents a $1.04 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, July 16th.

Alamo Group has raised its dividend by an average of 19.2% annually over the last three years. Alamo Group has a payout ratio of 7.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alamo Group to earn $13.53 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 7.7%.

Alamo Group Stock Up 0.4 %

ALG stock opened at $168.11 on Wednesday. The company’s 50 day simple moving average is $187.29 and its 200-day simple moving average is $202.14. The firm has a market capitalization of $2.03 billion, a PE ratio of 14.96 and a beta of 1.04. Alamo Group has a 12 month low of $157.74 and a 12 month high of $231.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.29 and a quick ratio of 2.49.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.66 by $0.01. The business had revenue of $425.59 million for the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same quarter in the prior year, the company earned $2.79 earnings per share. Equities analysts expect that Alamo Group will post 12.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. DA Davidson decreased their price target on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

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.