Alamo Group Inc. (NYSE:ALG) Short Interest Up 12.5% in September

Alamo Group Inc. (NYSE:ALG) was the target of a large growth in short interest during the month of 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. Approximately 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 79,100 shares, the days-to-cover ratio is presently 4.6 days.

Alamo Group Stock Up 0.5 %

Shares of NYSE ALG traded up $0.88 on Friday, hitting $181.09. The company had a trading volume of 60,241 shares, compared to its average volume of 74,001. The firm has a market capitalization of $2.18 billion, a P/E ratio of 16.11 and a beta of 1.07. Alamo Group has a 12-month low of $157.74 and a 12-month high of $231.40. The business has a 50 day moving average of $179.79 and a two-hundred day moving average of $188.94. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data 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 return on equity of 13.51% and a net margin of 7.56%. The company had revenue of $416.30 million for the quarter. During the same period in the prior year, the company posted $3.03 earnings per share. As a group, equities research analysts forecast that Alamo Group will post 10.23 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Tuesday, July 16th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.04 annualized dividend and a yield of 0.57%. Alamo Group’s payout ratio is 9.25%.

Analyst Ratings Changes

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

Insider Transactions at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. 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

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in Alamo Group during the 2nd quarter valued at about $643,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Alamo Group in the 2nd quarter worth approximately $48,000. Quarry LP acquired a new stake in Alamo Group in the 2nd quarter valued at approximately $48,000. Millennium Management LLC raised its stake in Alamo Group by 543.8% during the 2nd quarter. Millennium Management LLC now owns 28,211 shares of the industrial products company’s stock valued at $4,881,000 after acquiring an additional 23,829 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Alamo Group by 366.0% during 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. Institutional investors and hedge funds own 92.36% of the company’s stock.

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.