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

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Monday, April 1st, Zacks reports. Shareholders 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 dividend yield of 0.49%. The ex-dividend date is Monday, April 15th.

Alamo Group has raised its dividend payment by an average of 19.2% annually over the last three years and has raised 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. Equities research 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 Stock Performance

ALG opened at $213.44 on Friday. The firm has a market cap of $2.57 billion, a P/E ratio of 18.79 and a beta of 1.04. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a 50 day simple moving average of $212.48 and a two-hundred day simple moving average of $197.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99.

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

Insider Activity at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the sale, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Alamo Group

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in shares of Alamo Group by 277.8% in the fourth quarter. Morgan Stanley now owns 278,133 shares of the industrial products company’s stock valued at $39,384,000 after purchasing an additional 204,507 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Alamo Group by 8.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock valued at $96,065,000 after purchasing an additional 53,730 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Alamo Group by 317.7% in the second quarter. Goldman Sachs Group Inc. now owns 59,710 shares of the industrial products company’s stock valued at $6,952,000 after purchasing an additional 45,416 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alamo Group by 4.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock valued at $100,603,000 after purchasing an additional 36,290 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Alamo Group in the second quarter valued at approximately $5,646,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ALG shares. DA Davidson upped their target price on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th.

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.