Alamo Group Inc. (NYSE:ALG) Sees Large Growth in Short Interest

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

Insider Buying and Selling at Alamo Group

In related news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was 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 of the company’s stock, 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 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 transaction, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in Alamo Group during the fourth quarter worth about $259,000. Campbell & CO Investment Adviser LLC increased its stake in Alamo Group by 78.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 4,467 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 1,958 shares in the last quarter. RK Capital Management LLC boosted its holdings in shares of Alamo Group by 81.2% in the fourth quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock valued at $11,405,000 after buying an additional 24,310 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Alamo Group by 49.4% during the fourth quarter. Epoch Investment Partners Inc. now owns 13,071 shares of the industrial products company’s stock worth $2,747,000 after acquiring an additional 4,323 shares in the last quarter. Finally, Quadrature Capital Ltd raised its holdings in shares of Alamo Group by 62.4% during the fourth quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock worth $4,002,000 after acquiring an additional 7,311 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alamo Group Trading Down 1.7 %

Shares of ALG stock traded down $2.99 during trading hours on Tuesday, reaching $177.14. The company had a trading volume of 26,823 shares, compared to its average volume of 73,760. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a 50 day moving average of $179.67 and a 200 day moving average of $188.65. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 15.69 and a beta of 1.07.

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

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.