Alamo Group Inc. (NYSE:ALG) Plans Quarterly Dividend of $0.30

Alamo Group Inc. (NYSE:ALG) declared a quarterly dividend on Thursday, January 2nd,RTT News reports. Shareholders of record on Thursday, January 16th will be given a dividend of 0.30 per share by the industrial products company on Wednesday, January 29th. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26.

Alamo Group has raised its dividend payment by an average of 19.2% per year over the last three years. Alamo Group has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 $1.04 annual dividend with an expected future payout ratio of 9.2%.

Alamo Group Trading Up 1.0 %

Shares of NYSE ALG opened at $182.04 on Friday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 18.33 and a beta of 1.11. Alamo Group has a 1-year low of $163.74 and a 1-year high of $231.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The business has a fifty day moving average price of $191.48 and a 200 day moving average price of $182.10.

Wall Street Analyst Weigh In

Separately, Robert W. Baird boosted their price objective on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Insiders Place Their Bets

In related news, EVP Edward Rizzuti sold 276 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the sale, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. This represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Janet S. Pollock sold 257 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the sale, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. This trade represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

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.