Alamo Group, Inc. (NYSE:ALG) Stock to Pay Quarterly Dividend of $0.34

Alamo Group, Inc. (NYSE:ALG) declared a quarterly dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.34 per share by the industrial products company on Wednesday, October 28th. This represents a $1.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 15th.

Alamo Group has increased its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 14 years. Alamo Group has a dividend payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alamo Group to earn $12.30 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 11.1%.

Alamo Group Stock Performance

ALG stock opened at $156.27 on Friday. Alamo Group has a twelve month low of $145.76 and a twelve month high of $219.88. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.92 and a beta of 1.08. The business’s fifty day simple moving average is $164.98 and its two-hundred day simple moving average is $163.50. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08. The firm had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. Analysts predict that Alamo Group will post 10.52 earnings per share for the current year.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $164.41, for a total transaction of $446,373.15. Following the transaction, the executive vice president owned 8,142 shares of the company’s stock, valued at approximately $1,338,626.22. This trade represents a 25.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of Alamo Group by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,633 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 101 shares during the period. NewEdge Advisors LLC purchased a new position in Alamo Group during the second quarter worth about $25,000. Integrated Wealth Concepts LLC acquired a new position in Alamo Group in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC acquired a new position in Alamo Group in the 2nd quarter valued at about $35,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Alamo Group by 22.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,552 shares of the industrial products company’s stock valued at $256,000 after buying an additional 286 shares during the period. 92.36% of the stock is currently owned by institutional investors.

About Alamo Group

Alamo Group Inc (NYSE: ALG) is an industrial equipment manufacturer that designs, produces and services equipment used in vegetation management, infrastructure maintenance and agricultural applications. The company serves municipalities, government agencies, contractors, utility companies, agricultural operators and other commercial customers.

Its product portfolio includes mowing and brush-cutting equipment, roadside and right-of-way maintenance machinery, tree-care equipment, excavators, street sweepers, snow-removal equipment and agricultural implements.