Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
The Company’s common stock trades on the New York Stock Exchange under the symbol: ALG. On February 19, 2021, there were 11,896,421 shares of common stock outstanding, held by approximately 83 holders of record, but the total number of beneficial owners of the Company’s common stock exceeds this number. On February 19, 2021, the closing price of the common stock on the New York Stock Exchange was $155.92 per share.
On January 4, 2021, the Board of Directors of the Company declared a quarterly dividend of $0.14 per share which was paid on January 29, 2021 to holders of record as of January 19, 2021. The Company expects to continue its policy of paying regular cash dividends, although there is no assurance as to future dividends as they depend on future earnings, capital requirements and financial condition. In addition, the payment of dividends is subject to restrictions under the Company’s bank revolving credit agreement. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources” in Item 7 of Part II of this Annual Report on Form 10 - K for a further description of the bank revolving credit agreement.
Information relating to compensation plans under which equity securities of the Company are authorized for issuance is set forth in Part III, Item 12 of this Annual Report on Form 10-K.
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Stock Price Performance Graph
The information contained in this Stock Performance Graph section shall not be deemed to be “soliciting material” or “filed” with the SEC or subject to the liabilities of Section 18 of the Exchange Act except to the extent that Alamo Group Inc. specifically incorporates it by reference into a document filed under the Securities Act or the Exchange Act.
The following graph and table set forth the cumulative total return to the Company's stockholders of our Common Stock during a five-year period ended December 31, 2020, as well as the performance of an overall stock market index (the S&P SmallCap 600 Index) and the Company's selected peer group index (the Russell 2000 Index).
The Company believes a representative industry peer group of companies with a similar business segment profile does not exist. The SEC has indicated that companies may use a base other than industry or line of business for determining its peer group index, such as an index of companies with similar market capitalization. Accordingly, the Company has selected the Russell 2000 Index, a widely used small market capitalization index, to use as a representative peer group.
*$100 invested on 12/31/15 in stock or index, including reinvestment of dividends.
Fiscal year ending December 31.
Copyright© 2021 Standard & Poor's, a division of S&P Global. All rights reserved.
Copyright© 2021 Russell Investment Group. All rights reserved.
12/15 12/16 12/17 12/18 12/19 12/20
Alamo Group Inc. 100.00 146.97 218.99 150.69 245.89 271.48
S&P SmallCap 600
100.00 126.56 143.30 131.15 161.03 179.20
Russell 2000
100.00 121.31 139.08 123.76 155.35 186.36
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Purchase of Equity Securities
Due to the COVID-19 pandemic, in April of 2020, the Company announced that it had temporarily suspended its share repurchase program for the year.
Item 6. Selected Financial Data
The following selected financial data is derived from the consolidated financial statements of Alamo Group Inc. and its subsidiaries. The data should be read in conjunction with the consolidated financial statements, related notes and other financial information included herein, including in "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations."
Fiscal Year Ended December 31, (1)
(in thousands, except per share amounts)
2020 2019 2018 2017 2016
Operations:
Net sales $ 1,163,466 $ 1,119,138 $ 1,008,822 $ 912,380 $ 844,748
Income before income taxes 78,137 84,335 94,531 82,367 62,189
Net income 56,630 62,906 73,486 44,315 40,045
Percent of sales 4.9 % 5.6 % 7.3 % 4.9 % 4.7 %
Earnings per share
Basic 4.81 5.36 6.30 3.84 3.50
Diluted 4.78 5.33 6.25 3.79 3.46
Dividends per share 0.52 0.48 0.44 0.40 0.36
Average common shares
Basic 11,782 11,729 11,660 11,549 11,434
Diluted 11,845 11,800 11,761 11,682 11,565
Financial Position:
Total assets $ 1,109,329 $ 1,212,763 $ 721,633 $ 639,671 $ 552,776
Short-term debt and current maturities 15,066 18,840 119 82 73
Long-term debt, excluding current maturities 270,320 425,141 85,179 60,000 70,017
Stockholders’ equity $ 625,643 $ 569,757 $ 507,371 $ 449,108 $ 387,717
(1) Includes the results of operations of companies acquired from the closing dates of acquisitions.
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