Alamo Group, Inc. Announces Quarterly Dividend of $0.34 (NYSE:ALG)

Alamo Group, Inc. (NYSE:ALG) declared a quarterly dividend on Wednesday, July 1st. Investors of record on Thursday, July 16th will be paid a dividend of 0.34 per share by the industrial products company on Wednesday, July 29th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, July 16th.

Alamo Group has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Alamo Group has a payout ratio of 11.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alamo Group to earn $12.14 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 11.2%.

Alamo Group Stock Up 1.1%

Shares of ALG opened at $166.28 on Thursday. The firm has a market cap of $2.02 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. Alamo Group has a 52 week low of $145.76 and a 52 week high of $233.29. The firm’s 50-day simple moving average is $158.55 and its 200 day simple moving average is $175.00.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.36. The business had revenue of $417.15 million during the quarter, compared to analysts’ expectations of $398.02 million. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. On average, analysts forecast that Alamo Group will post 10.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on ALG shares. William Blair initiated coverage on shares of Alamo Group in a report on Monday, March 16th. They set an “outperform” rating on the stock. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. DA Davidson reissued a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a research report on Wednesday. Finally, Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $224.00.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.