Alamo Group Inc. (NYSE:ALG) Short Interest Down 5.8% in August

Alamo Group Inc. (NYSE:ALG) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 322,900 shares, a decrease of 5.8% from the August 15th total of 342,600 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average trading volume of 83,900 shares, the short-interest ratio is currently 3.8 days.

Alamo Group Stock Performance

NYSE:ALG opened at $181.87 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. Alamo Group has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The firm has a market cap of $2.19 billion, a PE ratio of 16.18 and a beta of 1.07. The business has a 50 day moving average price of $179.62 and a 200-day moving average price of $190.03.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The firm had revenue of $416.30 million for the quarter. During the same period in the prior year, the firm earned $3.03 earnings per share. Equities research analysts predict that Alamo Group will post 10.23 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were given a $0.26 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. Alamo Group’s dividend payout ratio is currently 9.25%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. DA Davidson increased their price objective on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Robert W. Baird lowered their price objective on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Insider Buying and Selling

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of Alamo Group 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 completion of 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 at the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alamo Group

Several hedge funds have recently made changes to their positions in ALG. Cubist Systematic Strategies LLC purchased a new position in shares of Alamo Group during the 2nd quarter worth approximately $643,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alamo Group in the second quarter worth $48,000. Quarry LP bought a new position in shares of Alamo Group in the second quarter worth approximately $48,000. Millennium Management LLC grew its holdings in shares of Alamo Group by 543.8% during the second quarter. Millennium Management LLC now owns 28,211 shares of the industrial products company’s stock valued at $4,881,000 after buying an additional 23,829 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Alamo Group by 366.0% in the 2nd quarter. Squarepoint Ops LLC now owns 20,928 shares of the industrial products company’s stock valued at $3,621,000 after acquiring an additional 16,437 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

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.