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

Alamo Group Inc. (NYSE:ALG) was the target of a significant decrease in short interest in 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. Approximately 3.4% of the shares of the company are sold short. Based on an average trading volume of 81,000 shares, the days-to-cover ratio is presently 4.9 days.

Alamo Group Trading Up 0.4 %

Shares of ALG stock opened at $197.29 on Thursday. The business’s fifty day moving average price is $188.70 and its 200 day moving average price is $181.75. The firm has a market capitalization of $2.38 billion, a PE ratio of 19.87 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a 1-year low of $163.74 and a 1-year high of $231.40.

Alamo Group Dividend Announcement

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

Insider Activity

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the transaction, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Edward Rizzuti sold 276 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value of $54,062.88. Following the sale, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

Several hedge funds and other institutional investors have recently made changes to their positions in ALG. Nisa Investment Advisors LLC increased its holdings in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares in the last quarter. JNBA Financial Advisors purchased a new position in Alamo Group in the 3rd quarter valued at approximately $37,000. First Horizon Advisors Inc. raised its holdings in Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 159 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alamo Group during the second quarter worth $48,000. Finally, Quarry LP purchased a new stake in Alamo Group during the second quarter worth $48,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ALG shares. Robert W. Baird upped their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. DA Davidson boosted their price target 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.

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.