Short Interest in Alamo Group Inc. (NYSE:ALG) Expands By 8.0%

Alamo Group Inc. (NYSE:ALG) was the recipient of a large 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 volume of 81,500 shares, the days-to-cover ratio is presently 5.1 days.

Insider Activity

In other news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value of $54,062.88. Following the sale, the executive vice president now directly owns 8,439 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors have recently added to or reduced their stakes in ALG. Tidal Investments LLC lifted its position in shares of Alamo Group by 3.8% during the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock valued at $557,000 after buying an additional 113 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Alamo Group during the 3rd quarter worth approximately $273,000. Geode Capital Management LLC lifted its position in Alamo Group by 0.3% during the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after acquiring an additional 670 shares during the last quarter. Barclays PLC boosted its stake in Alamo Group by 204.7% in the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock valued at $4,039,000 after acquiring an additional 15,061 shares in the last quarter. Finally, First National Bank of Omaha grew its holdings in Alamo Group by 6.6% in the third quarter. First National Bank of Omaha now owns 2,988 shares of the industrial products company’s stock worth $538,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Down 1.1 %

ALG stock traded down $2.21 during trading on Tuesday, hitting $199.74. 60,227 shares of the company’s stock traded hands, compared to its average volume of 81,900. The business has a fifty day simple moving average of $184.37 and a two-hundred day simple moving average of $181.34. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. 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 1 year low of $163.74 and a 1 year high of $231.40.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors 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 0.52%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is currently 10.47%.

Analysts Set New Price Targets

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

About Alamo Group

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.