Short Interest in Alamo Group, Inc. (NYSE:ALG) Increases By 14.2%

Alamo Group, Inc. (NYSE:ALG) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 332,600 shares, a growth of 14.2% from the December 15th total of 291,300 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 99,900 shares, the days-to-cover ratio is presently 3.3 days.

In other news, insider Weiss Gary sold 25,205,509 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $1.18, for a total transaction of $29,742,500.62. Corporate insiders own 3.29% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in shares of Alamo Group during the 2nd quarter valued at $76,000. Point72 Hong Kong Ltd boosted its holdings in shares of Alamo Group by 10,133.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 921 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 912 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Alamo Group by 345.4% in the 2nd quarter. Bank of Montreal Can now owns 1,060 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 822 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Alamo Group during the 3rd quarter valued at about $212,000. Finally, Paloma Partners Management Co bought a new position in shares of Alamo Group during the 2nd quarter valued at about $245,000. 94.43% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on ALG. Zacks Investment Research cut shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. ValuEngine lowered Alamo Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Finally, Dougherty & Co cut Alamo Group from a “buy” rating to a “neutral” rating in a research report on Sunday, November 3rd.

Shares of ALG traded up $0.33 during trading hours on Wednesday, reaching $125.97. 982 shares of the company’s stock traded hands, compared to its average volume of 85,861. The stock has a market cap of $1.47 billion, a PE ratio of 21.24 and a beta of 0.73. The company has a current ratio of 4.36, a quick ratio of 2.65 and a debt-to-equity ratio of 0.27. The firm’s 50 day simple moving average is $120.79 and its 200-day simple moving average is $113.18. Alamo Group has a 12 month low of $81.12 and a 12 month high of $129.93.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.88 by ($0.34). The business had revenue of $271.83 million for the quarter. Alamo Group had a return on equity of 13.07% and a net margin of 6.50%. As a group, analysts expect that Alamo Group will post 6.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, January 15th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.41%. Alamo Group’s payout ratio is presently 8.04%.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-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.

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