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

Alamo Group Inc. (NYSE:ALG) was the recipient of a significant increase in short interest during the month of 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. Based on an average trading volume of 81,500 shares, the days-to-cover ratio is presently 5.1 days. Approximately 3.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird increased their price objective 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 increased their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 owns 8,439 shares in the company, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares during the period. JNBA Financial Advisors bought a new position in Alamo Group during the third quarter worth about $37,000. First Horizon Advisors Inc. increased its position in Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 159 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Alamo Group during the second quarter worth about $48,000. Finally, Quarry LP bought a new position in Alamo Group during the second quarter worth about $48,000. 92.36% of the stock is owned by institutional investors.

Alamo Group Stock Performance

Shares of ALG traded up $0.13 during trading hours on Wednesday, hitting $199.87. The company had a trading volume of 9,027 shares, compared to its average volume of 75,861. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 20.11 and a beta of 1.10. The business has a fifty day moving average of $184.37 and a 200-day moving average of $181.34. Alamo Group has a 12 month low of $163.74 and a 12 month high of $231.40. 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 firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s dividend payout ratio is 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.