Alamo Group Inc. (NYSE:ALG) Sees Significant Growth in Short Interest

Alamo Group Inc. (NYSE:ALG) was the target of a significant increase in short interest in 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. Based on an average trading volume of 81,500 shares, the short-interest ratio is currently 5.1 days. Approximately 3.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Edward Rizzuti sold 276 shares of Alamo Group stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALG. Nisa Investment Advisors LLC raised its holdings in shares of Alamo Group by 700.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. JNBA Financial Advisors bought a new stake in shares of Alamo Group during the third quarter valued at approximately $37,000. First Horizon Advisors Inc. increased its stake in shares of Alamo Group by 174.7% during the second 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. bought a new position in Alamo Group during the 2nd quarter valued at approximately $48,000. Finally, Quarry LP purchased a new position in shares of Alamo Group in the 2nd quarter worth about $48,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Stock Down 1.1 %

Shares of ALG stock traded down $2.21 during trading hours on Tuesday, reaching $199.74. The company had a trading volume of 60,227 shares, compared to its average volume of 76,150. Alamo Group has a 12 month low of $163.74 and a 12 month high of $231.40. The business has a fifty day simple moving average of $184.03 and a 200-day simple moving average of $181.30. 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 company has a market cap of $2.41 billion, a price-to-earnings ratio of 20.34 and a beta of 1.10.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Alamo Group’s dividend payout ratio is presently 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.