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

Key Points

• Alamo Group, Inc. has declared a quarterly dividend of $0.30 per share, payable on October 28th to shareholders of record on October 15th, representing an annual yield of 0.6%.
• The company has a dividend payout ratio of 10.5%, comfortably covering its dividends with expected earnings of $11.27 per share next year.
• Shares of Alamo Group traded down to $188.93, with a market capitalization of $2.29 billion and recent trading activity showing higher volumes than average.

Alamo Group, Inc. (NYSE:ALG - Get Free Report) declared a quarterly dividend on Wednesday, October 1st, RTT News reports. Shareholders of record on Wednesday, October 15th will be paid a dividend of 0.30 per share by the industrial products company on Tuesday, October 28th. This represents a c) annualized dividend and a yield of 0.6%.

Alamo Group has a dividend payout ratio of 10.5% meaning 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 $1.20 annual dividend with an expected future payout ratio of 10.6%.

Alamo Group Stock Performance

Shares of ALG stock traded down $1.97 during trading hours on Wednesday, hitting $188.93. The stock had a trading volume of 95,541 shares, compared to its average volume of 89,401. The firm has a market capitalization of $2.29 billion, a PE ratio of 19.24, a PEG ratio of 1.00 and a beta of 1.08. Alamo Group has a twelve month low of $157.07 and a twelve month high of $233.29. The stock's 50 day moving average is $211.95 and its 200 day moving average is $201.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). The company had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. As a group, research analysts forecast that Alamo Group will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALG has been the subject of a number of recent research reports. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $209.00 to $260.00 in a report on Monday, August 4th. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $234.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.