Alamo Group Inc. (NYSE:ALG) Short Interest Up 8.0% in November

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird upped their target price 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 upped their target price on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the sale, the executive vice president now owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALG. Nisa Investment Advisors LLC boosted its holdings in shares of 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 during the period. JNBA Financial Advisors acquired a new position in Alamo Group during the third quarter worth $37,000. First Horizon Advisors Inc. boosted 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 acquired a new position in Alamo Group during the second quarter worth $48,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Stock Up 0.1 %

Shares of Alamo Group stock traded up $0.13 on Wednesday, hitting $199.87. The company had a trading volume of 9,027 shares, compared to its average volume of 75,861. The firm has a market capitalization of $2.41 billion, a P/E ratio of 20.11 and a beta of 1.10. Alamo Group has a twelve month low of $163.74 and a twelve month high of $231.40. 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 has a 50-day moving average of $184.37 and a 200-day moving average of $181.34.

Alamo Group Announces Dividend

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. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) 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.