Alamo Group, Inc. (ALG) to Issue Quarterly Dividend of $0.30 on July 29th

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

Alamo Group has a payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. 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

Shares of NYSE:ALG opened at $225.31 on Thursday. The company has a quick ratio of 2.62, a current ratio of 4.30 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.72 billion, a PE ratio of 23.47 and a beta of 1.08. The company’s fifty day moving average is $199.79 and its 200 day moving average is $187.72. Alamo Group has a 52 week low of $157.07 and a 52 week high of $225.75.

Alamo Group (NYSE:ALG) last released its earnings results 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 during the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. Research analysts anticipate that Alamo Group will post 9.53 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Alamo Group

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. DA Davidson dropped their target price on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating for the company in a report on Monday, April 21st.

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.