Alamo Group Inc. (NYSE:ALG) Short Interest Up 12.5% in September

Alamo Group Inc. (NYSE:ALG) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 363,200 shares, an increase of 12.5% from the August 31st total of 322,900 shares. Based on an average trading volume of 79,100 shares, the short-interest ratio is presently 4.6 days. Currently, 3.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

ALG has been the topic of a number of recent analyst reports. Robert W. Baird cut their target price on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, DA Davidson raised their target price on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares in the company, valued at $1,384,421.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. grew its position in Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 47 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Alamo Group by 174.7% in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alamo Group during the second quarter worth $48,000. Quarry LP acquired a new position in Alamo Group during the second quarter worth $48,000. Finally, nVerses Capital LLC bought a new position in Alamo Group during the second quarter valued at about $52,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Up 0.5 %

Shares of ALG traded up $0.88 during mid-day trading on Friday, reaching $181.09. The company’s stock had a trading volume of 60,241 shares, compared to its average volume of 74,001. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 16.11 and a beta of 1.07. The business has a fifty day moving average of $179.79 and a 200 day moving average of $188.94. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. Alamo Group has a 1 year low of $157.74 and a 1 year high of $231.40.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. The company had revenue of $416.30 million during the quarter. During the same period last year, the business earned $3.03 earnings per share. As a group, analysts forecast that Alamo Group will post 10.23 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Tuesday, July 16th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. Alamo Group’s dividend payout ratio is 9.25%.

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.