Short Interest in Alamo Group Inc. (NYSE:ALG) Rises By 12.5%

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. Based on an average daily volume of 79,100 shares, the short-interest ratio is presently 4.6 days. Currently, 3.2% of the shares of the company are short sold.

Analyst Ratings Changes

Several analysts have recently issued reports on ALG shares. Robert W. Baird reduced their target price on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. DA Davidson increased their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th.

Alamo Group Trading Down 0.5 %

Shares of ALG stock opened at $180.13 on Tuesday. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The stock’s fifty day moving average price is $179.67 and its two-hundred day moving average price is $188.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. The company has a market cap of $2.17 billion, a PE ratio of 16.03 and a beta of 1.07.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Alamo Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in Alamo Group by 48.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after acquiring an additional 193,463 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of Alamo Group during the first quarter worth about $12,844,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Alamo Group by 19.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 320,688 shares of the industrial products company’s stock valued at $73,223,000 after buying an additional 53,195 shares during the period. Janus Henderson Group PLC raised its holdings in Alamo Group by 42.4% in the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock valued at $39,346,000 after buying an additional 51,292 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in 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 buying an additional 50,327 shares during the period. 92.36% of the stock is owned by 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.