Alamo Group, Inc. Announces Quarterly Dividend of $0.30 (NYSE:ALG)

Alamo Group, Inc. (NYSE:ALG - Get Free Report) declared a quarterly dividend on Tuesday, July 1st, RTT News reports. Investors of record on Wednesday, July 16th will be given a dividend of 0.30 per share by the industrial products company on Tuesday, July 29th. This represents a $1.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, July 16th.

Alamo Group has a payout ratio of 10.5% meaning 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 Price Performance

ALG traded up $2.84 during trading on Wednesday, reaching $225.31. The stock had a trading volume of 99,980 shares, compared to its average volume of 101,334. The business has a 50-day moving average of $198.65 and a 200-day moving average of $187.46. Alamo Group has a one year low of $157.07 and a one year high of $225.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.62 and a current ratio of 4.30. The stock has a market cap of $2.72 billion, a PE ratio of 23.47 and a beta of 1.08.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. The company had revenue of $390.95 million for the quarter, compared to analysts' expectations of $391.08 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. As a group, equities research analysts anticipate that Alamo Group will post 9.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALG shares. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. DA Davidson decreased their price objective on Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a report on Monday, April 21st.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total transaction of $100,920.00. Following the completion of the sale, the executive vice president owned 12,948 shares of the company's stock, valued at $2,613,424.32. This represents a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the transaction, the chief executive officer owned 40,913 shares in the company, valued at $8,244,787.76. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock worth $58,000 after acquiring an additional 314 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Alamo Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company's stock valued at $1,084,000 after purchasing an additional 251 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alamo Group by 12.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company's stock valued at $6,444,000 after buying an additional 4,062 shares during the period. Finally, Millennium Management LLC increased its position in shares of Alamo Group by 164.7% during the first quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company's stock valued at $11,332,000 after buying an additional 39,564 shares during the period. Institutional investors own 92.36% of the company's stock.

About Alamo Group

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.