Alamo Group Inc. (NYSE:ALG) Short Interest Down 5.4% in November

Alamo Group Inc. (NYSE:ALG) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 395,100 shares, a decrease of 5.4% from the November 15th total of 417,800 shares. Based on an average daily trading volume, of 81,000 shares, the days-to-cover ratio is presently 4.9 days. Approximately 3.4% of the shares of the company are short sold.

Alamo Group Stock Performance

NYSE ALG opened at $196.51 on Wednesday. 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 stock’s 50 day simple moving average is $188.22 and its 200-day simple moving average is $181.64. The company has a market cap of $2.37 billion, a PE ratio of 19.79 and a beta of 1.10. Alamo Group has a 1-year low of $163.74 and a 1-year high of $231.40.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were issued a $0.26 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Alamo Group’s payout ratio is 10.47%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALG. Robert W. Baird lifted their price target on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DA Davidson lifted their target price on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the sale, the executive vice president now owns 8,439 shares in the company, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Janet S. Pollock sold 257 shares of the company’s 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 completion of the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after buying an additional 45,422 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock worth $74,830,000 after acquiring an additional 28,786 shares during the last quarter. State Street Corp increased its stake in shares of Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after acquiring an additional 10,013 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Alamo Group by 17.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after acquiring an additional 50,327 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Alamo Group by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after acquiring an additional 670 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

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.