Short Interest in Alamo Group Inc. (NYSE:ALG) Decreases By 5.4%

Alamo Group Inc. (NYSE:ALG) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 395,100 shares, a drop of 5.4% from the November 15th total of 417,800 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average daily volume of 81,000 shares, the short-interest ratio is currently 4.9 days.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of Alamo Group stock in a transaction 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 completion of the sale, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in shares of Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors bought a new position in shares of Alamo Group during the 3rd quarter valued at $37,000. First Horizon Advisors Inc. raised its holdings in shares of Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares in the last quarter. Quarry LP bought a new position in Alamo Group in the 2nd quarter worth $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Alamo Group in the 2nd quarter worth $48,000. Institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

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

Alamo Group Stock Up 1.8 %

Alamo Group stock opened at $196.58 on Tuesday. The company has a market capitalization of $2.37 billion, a P/E ratio of 19.80 and a beta of 1.10. The firm’s fifty day simple moving average is $187.74 and its 200-day simple moving average is $181.59. 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.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. Alamo Group’s dividend payout ratio is currently 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.