Short Interest in Alamo Group Inc. (NYSE:ALG) Drops By 6.3%

Alamo Group Inc. (NYSE:ALG) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 370,400 shares, a decrease of 6.3% from the November 30th total of 395,100 shares. Currently, 3.2% of the company’s shares are sold short. Based on an average daily volume of 91,800 shares, the short-interest ratio is presently 4.0 days.

Insider Buying and Selling at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the transaction, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

Several hedge funds have recently made changes to their positions in ALG. Wellington Management Group LLP purchased a new position in shares of Alamo Group during the third quarter valued at $35,759,000. Assenagon Asset Management S.A. grew its holdings in 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 acquiring an additional 66,698 shares in the last quarter. Westwood Holdings Group Inc. increased its position in Alamo Group by 17.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after purchasing an additional 50,327 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Alamo Group by 7.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after purchasing an additional 45,422 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Alamo Group by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock worth $66,888,000 after purchasing an additional 33,190 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Trading Up 0.3 %

ALG stock traded up $0.58 during mid-day trading on Tuesday, reaching $185.98. The company had a trading volume of 5,356 shares, compared to its average volume of 77,960. The firm has a 50 day moving average of $190.40 and a 200 day moving average of $181.98. 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 has a 12 month low of $163.74 and a 12 month high of $231.40. The company has a market capitalization of $2.24 billion, a PE ratio of 18.73 and a beta of 1.10.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.56%. Alamo Group’s payout ratio is currently 10.47%.

Analyst Ratings Changes

Separately, 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.

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.