Alamo Group Inc. Declares Quarterly Dividend of $0.26 (NYSE:ALG)

Alamo Group Inc. (NYSE:ALG - Get Free Report) declared a quarterly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Tuesday, April 16th will be given a dividend of 0.26 per share by the industrial products company on Monday, April 29th. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, April 15th.

Alamo Group has increased its dividend by an average of 19.2% annually over the last three years and has raised its dividend every year for the last 5 years. Alamo Group has a payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alamo Group to earn $13.76 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 7.6%.

Alamo Group Stock Up 2.3 %

NYSE ALG traded up $5.05 during trading hours on Wednesday, reaching $220.26. 89,593 shares of the company's stock were exchanged, compared to its average volume of 72,205. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.99 and a current ratio of 3.76. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The company's 50-day moving average is $212.03 and its two-hundred day moving average is $195.20. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 19.39 and a beta of 1.04.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $2.63 EPS for the quarter, missing analysts' consensus estimates of $2.85 by ($0.22). The company had revenue of $417.54 million for the quarter. Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. On average, analysts forecast that Alamo Group will post 13.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALG. StockNews.com raised Alamo Group from a "hold" rating to a "buy" rating in a research report on Tuesday, March 5th. DA Davidson boosted their target price on Alamo Group from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th.

Insiders Place Their Bets

In other news, EVP Michael A. Haberman sold 418 shares of the firm's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares in the company, valued at approximately $4,299,647.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Alamo Group

Several large investors have recently made changes to their positions in ALG. NewEdge Advisors LLC raised its position in Alamo Group by 5,380.0% during the first quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company's stock worth $50,000 after acquiring an additional 269 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Alamo Group by 33.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 68 shares during the last quarter. FMR LLC grew its holdings in Alamo Group by 17.4% during the second quarter. FMR LLC now owns 701 shares of the industrial products company's stock worth $81,000 after purchasing an additional 104 shares during the period. Captrust Financial Advisors increased its position in Alamo Group by 30.1% during the first quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company's stock worth $139,000 after buying an additional 223 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Alamo Group by 131.2% in the fourth quarter. Point72 Asset Management L.P. now owns 800 shares of the industrial products company's stock valued at $168,000 after buying an additional 454 shares during the period. Institutional investors and hedge funds 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.