Alamo Group Inc. (NYSE:ALG) Short Interest Up 7.8% in October

Alamo Group Inc. (NYSE:ALG) was the target of 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 company’s stock are short sold. Based on an average daily volume of 77,200 shares, the days-to-cover ratio is currently 5.0 days.

Alamo Group Stock Performance

Shares of ALG opened at $193.49 on Tuesday. The firm has a 50-day moving average of $180.24 and a 200-day moving average of $181.22. Alamo Group has a one year low of $163.74 and a one year high of $231.40. The company has a market cap of $2.33 billion, a PE ratio of 19.49 and a beta of 1.08. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders 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 dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s dividend payout ratio is presently 10.47%.

Insider Buying and Selling

In related news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction 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 owns 11,061 shares in the company, valued at approximately $2,005,138.08. This represents a 2.64 % decrease in their ownership of the stock. 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 stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the transaction, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Alamo Group

A number of hedge funds have recently modified their holdings of ALG. Wellington Management Group LLP acquired a new stake in shares of Alamo Group during the 3rd quarter worth about $35,759,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Alamo Group by 48.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after buying an additional 193,463 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Alamo Group by 1,486.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock worth $12,823,000 after buying an additional 66,698 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Alamo Group by 16.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after buying an additional 52,250 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Alamo Group by 42.4% during the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after buying an additional 51,292 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ALG shares. Robert W. Baird lifted their price objective 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 lifted their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report 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.