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 October. As of October 31st, there was short interest totalling 387,000 shares, an increase of 7.8% from the October 15th total of 358,900 shares. Based on an average daily volume of 77,200 shares, the days-to-cover ratio is presently 5.0 days. Approximately 3.4% of the company’s stock are sold short.

Insider Activity

In other news, EVP Edward Rizzuti sold 276 shares of the firm’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 transaction, the executive vice president now owns 8,439 shares of the company’s stock, 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 can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of 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 trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in shares of Alamo Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock worth $525,000 after buying an additional 63 shares during the last quarter. Huntington National Bank lifted its position in shares of Alamo Group by 10.4% during the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after buying an additional 63 shares during the last quarter. Aurora Investment Counsel lifted its position in shares of Alamo Group by 1.5% during the 3rd quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock worth $1,034,000 after buying an additional 85 shares during the last quarter. FORA Capital LLC increased its holdings in shares of Alamo Group by 6.7% in the 3rd quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock valued at $252,000 after acquiring an additional 88 shares during the period. Finally, Diversified Trust Co increased its holdings in shares of Alamo Group by 6.7% in the 2nd quarter. Diversified Trust Co now owns 1,548 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALG shares. DA Davidson lifted 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. Robert W. Baird lifted their price target on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

Alamo Group Stock Down 0.4 %

Shares of NYSE:ALG opened at $193.49 on Tuesday. The company has a market capitalization of $2.33 billion, a PE ratio of 19.49 and a beta of 1.08. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group has a twelve month low of $163.74 and a twelve month high of $231.40. The firm has a 50 day simple moving average of $179.79 and a 200-day simple moving average of $181.23.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. 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.