Alamo Group Inc. (NYSE:ALG) Short Interest Up 7.8% in October

Alamo Group Inc. (NYSE:ALG) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 387,000 shares, a growth of 7.8% from the October 15th total of 358,900 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average trading volume of 77,200 shares, the days-to-cover ratio is currently 5.0 days.

Alamo Group Trading Down 0.4 %

NYSE ALG opened at $193.49 on Tuesday. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group has a 1-year low of $163.74 and a 1-year high of $231.40. The firm’s fifty day simple moving average is $180.24 and its 200-day simple moving average is $181.22. The company has a market capitalization of $2.33 billion, a PE ratio of 19.49 and a beta of 1.08.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s payout ratio is currently 10.47%.

Insider Buying and Selling

In other news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the sale, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Alamo Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in Alamo Group in the third quarter worth approximately $35,759,000. Allspring Global Investments Holdings LLC increased its stake in shares of Alamo Group by 48.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after purchasing an additional 193,463 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of 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 valued at $12,823,000 after purchasing an additional 66,698 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Alamo Group by 16.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock valued at $64,518,000 after purchasing an additional 52,250 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Alamo Group by 42.4% in the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after purchasing an additional 51,292 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALG has been the topic of a number of research analyst reports. Robert W. Baird lifted their price target on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th. DA Davidson lifted their target price on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

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.