Alamo Group Inc. (NYSE:ALG) Short Interest Up 8.0% in November

Alamo Group Inc. (NYSE:ALG) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 417,800 shares, an increase of 8.0% from the October 31st total of 387,000 shares. Approximately 3.6% of the company’s stock are sold short. Based on an average trading volume of 81,500 shares, the days-to-cover ratio is currently 5.1 days.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its stake in shares of Alamo Group by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after acquiring an additional 45,422 shares during the period. Victory Capital Management Inc. grew its position in Alamo Group by 7.4% in the third quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock worth $74,830,000 after acquiring an additional 28,786 shares in the last quarter. State Street Corp lifted its position in shares of Alamo Group by 2.6% in the third quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after buying an additional 10,013 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Alamo Group by 16.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after buying an additional 52,250 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Alamo Group by 17.1% in the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after purchasing an additional 50,327 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Price Performance

Shares of Alamo Group stock traded down $2.21 during trading on Tuesday, hitting $199.74. 60,227 shares of the company were exchanged, compared to its average volume of 76,150. The firm has a 50 day moving average price of $184.03 and a 200 day moving average price of $181.30. Alamo Group has a fifty-two week low of $163.74 and a fifty-two week high of $231.40. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 20.34 and a beta of 1.10. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.52%. Alamo Group’s dividend payout ratio is presently 10.47%.

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.