Alamo Group Inc. (NYSE:ALG) Raises Dividend to $0.30 Per Share

Alamo Group Inc. (NYSE:ALG - Get Free Report) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Shareholders of record on Thursday, January 16th will be given a dividend of 0.30 per share by the industrial products company on Wednesday, January 29th. This represents a $1.20 dividend on an annualized basis and a yield of 0.67%. This is an increase from Alamo Group's previous quarterly dividend of $0.26.

Alamo Group has raised its dividend payment by an average of 19.2% per year over the last three years. Alamo Group has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alamo Group to earn $11.27 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 9.2%.

Alamo Group Trading Down 3.1 %

Shares of ALG stock traded down $5.74 on Thursday, reaching $180.17. The company had a trading volume of 128,135 shares, compared to its average volume of 78,401. The stock has a market cap of $2.17 billion, a PE ratio of 18.14 and a beta of 1.10. The company has a 50-day moving average of $191.27 and a 200-day moving average of $182.07. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group has a 12 month low of $163.74 and a 12 month high of $231.40.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their target price on shares of Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, November 4th.

Insider Activity at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the sale, the vice president now owns 3,360 shares of the company's stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward Rizzuti sold 276 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares of the company's stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

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.