Alamo Group Inc. (NYSE:ALG) Declares $0.30 Quarterly Dividend

Alamo Group Inc. (NYSE:ALG - Get Free Report) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Stockholders of record on Wednesday, April 16th will be paid a dividend of 0.30 per share by the industrial products company on Tuesday, April 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Wednesday, April 16th.

Alamo Group has raised its dividend by an average of 21.6% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Alamo Group has a payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Alamo Group to earn $11.27 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 10.6%.

Alamo Group Stock Performance

ALG stock traded down $5.71 during trading on Friday, hitting $165.35. The company had a trading volume of 138,483 shares, compared to its average volume of 90,134. The firm has a 50-day moving average price of $184.01 and a 200-day moving average price of $184.78. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.00 billion, a PE ratio of 16.65 and a beta of 1.10. Alamo Group has a 1-year low of $163.26 and a 1-year high of $222.88.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.16. The firm had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, analysts expect that Alamo Group will post 9.53 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com cut Alamo Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a report on Monday, March 3rd. Robert W. Baird lowered Alamo Group from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $224.00 to $177.00 in a report on Friday, February 28th. Baird R W cut Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, DA Davidson decreased their price objective on shares of Alamo Group from $219.00 to $217.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd.

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.