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

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Wednesday, April 16th will be given a dividend of 0.30 per share by the industrial products company on Tuesday, April 29th. This represents a $1.20 annualized dividend and a yield of 0.67%.

Alamo Group has increased its dividend payment by an average of 21.6% per year over the last three years and has raised its dividend every year for the last 13 years. Alamo Group has a payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.9 %

Alamo Group stock opened at $179.75 on Wednesday. The stock’s 50 day moving average price is $184.71 and its 200 day moving average price is $184.95. The company has a market cap of $2.17 billion, a PE ratio of 18.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a 1-year low of $163.74 and a 1-year high of $224.02.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The firm had revenue of $385.32 million for the quarter, compared to the consensus estimate of $396.85 million. On average, sell-side analysts predict that Alamo Group will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

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