Alamo Group Inc. (NYSE:ALG) Short Interest Up 12.5% in September

Alamo Group Inc. (NYSE:ALG) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 363,200 shares, an increase of 12.5% from the August 31st total of 322,900 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average trading volume of 79,100 shares, the days-to-cover ratio is currently 4.6 days.

Insider Activity

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction of $57,409.38. Following the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several large investors have recently made changes to their positions in ALG. Cubist Systematic Strategies LLC bought a new position in Alamo Group in the 2nd quarter worth approximately $643,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alamo Group during the second quarter valued at about $48,000. Quarry LP bought a new position in Alamo Group in the 2nd quarter valued at about $48,000. Millennium Management LLC increased its stake in Alamo Group by 543.8% during the 2nd quarter. Millennium Management LLC now owns 28,211 shares of the industrial products company’s stock valued at $4,881,000 after buying an additional 23,829 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Alamo Group by 366.0% during the 2nd quarter. Squarepoint Ops LLC now owns 20,928 shares of the industrial products company’s stock worth $3,621,000 after buying an additional 16,437 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Ratings Changes

ALG has been the subject of several analyst reports. Robert W. Baird cut their target price on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, DA Davidson boosted their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Trading Down 1.7 %

ALG stock traded down $2.99 during midday trading on Tuesday, reaching $177.14. 26,823 shares of the company’s stock traded hands, compared to its average volume of 73,760. The business has a 50-day moving average price of $179.67 and a two-hundred day moving average price of $188.65. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. The company has a market capitalization of $2.14 billion, a P/E ratio of 15.69 and a beta of 1.07.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. The company had revenue of $416.30 million for the quarter. During the same period in the prior year, the firm earned $3.03 earnings per share. Equities research analysts forecast that Alamo Group will post 10.23 EPS for the current fiscal year.

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.