Alamo Group Inc. (NYSE:ALG) Short Interest Update

Alamo Group Inc. (NYSE:ALG) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 417,800 shares, an increase of 8.0% from the October 31st total of 387,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 81,500 shares, the days-to-cover ratio is currently 5.1 days.

Analysts Set New Price Targets

Several research firms have weighed in on ALG. DA Davidson increased their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Robert W. Baird raised their target price on Alamo Group from $204.00 to $205.00 and gave the stock 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 stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now owns 8,439 shares in the company, valued at approximately $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Alamo Group

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in Alamo Group by 1.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,703 shares of the industrial products company’s stock valued at $7,696,000 after buying an additional 489 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Alamo Group by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 18,395 shares of the industrial products company’s stock valued at $3,182,000 after purchasing an additional 13,469 shares in the last quarter. SG Americas Securities LLC bought a new stake in Alamo Group in the second quarter worth $1,230,000. Diversified Trust Co increased its position in Alamo Group by 6.7% in the second quarter. Diversified Trust Co now owns 1,548 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 97 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Alamo Group during the second quarter valued at $252,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

NYSE:ALG traded down $2.21 on Tuesday, reaching $199.74. 60,227 shares of the company’s stock traded hands, compared to its average volume of 81,900. The stock has a 50-day simple moving average of $184.37 and a 200-day simple moving average of $181.34. Alamo Group has a 12 month low of $163.74 and a 12 month high of $231.40. The firm has a market cap of $2.41 billion, a PE ratio of 20.11 and a beta of 1.10. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is currently 10.47%.

About Alamo Group

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.