Short Interest in Alamo Group Inc. (NYSE:ALG) Increases By 7.8%

Alamo Group Inc. (NYSE:ALG) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 387,000 shares, a growth of 7.8% from the October 15th total of 358,900 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 77,200 shares, the days-to-cover ratio is presently 5.0 days.

Analysts Set New Price Targets

Several analysts have weighed in on ALG shares. DA Davidson lifted their target price on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird raised their price target on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Insider Buying and Selling at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alamo Group

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in Alamo Group by 700.0% during 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 bought a new position in shares of Alamo Group during the 3rd quarter valued at about $37,000. First Horizon Advisors Inc. boosted its position in shares of Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Alamo Group in the 2nd quarter worth approximately $48,000. Finally, Quarry LP bought a new stake in shares of Alamo Group in the 2nd quarter worth approximately $48,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Trading Down 0.4 %

Shares of NYSE:ALG opened at $193.49 on Tuesday. The company has a 50 day moving average of $180.24 and a 200-day moving average of $181.22. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.33 billion, a P/E ratio of 19.49 and a beta of 1.08. Alamo Group has a twelve month low of $163.74 and a twelve month high of $231.40.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s payout ratio is currently 10.47%.

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.