Alamo Group, Inc. (NYSE:ALG) Short Interest Update

Alamo Group, Inc. (NYSE:ALG) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 494,209 shares, a decrease of 12.8% from the February 26th total of 567,031 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average trading volume of 207,200 shares, the short-interest ratio is currently 2.4 days.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $164.78 on Wednesday. The business’s fifty day simple moving average is $189.77 and its 200 day simple moving average is $182.60. The company has a current ratio of 4.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.17. Alamo Group has a 12 month low of $156.29 and a 12 month high of $233.29. The firm has a market capitalization of $2.00 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 0.99 and a beta of 1.10.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36). Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. The business had revenue of $373.65 million during the quarter, compared to the consensus estimate of $405.18 million. As a group, analysts anticipate that Alamo Group will post 9.53 EPS for the current year.

Alamo Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were given a dividend of $0.34 per share. The ex-dividend date was Friday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is currently 15.83%.

Analyst Ratings Changes

A number of research firms have issued reports on ALG. Zacks Research downgraded Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. DA Davidson reiterated a “neutral” rating and issued a $190.00 target price on shares of Alamo Group in a research note on Monday, March 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a report on Friday. William Blair started coverage on shares of Alamo Group in a research report on Monday, March 16th. They set an “outperform” rating on the stock. Finally, CJS Securities upgraded shares of Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.00.

Insider Buying and Selling at Alamo Group

In other news, Director Nina C. Grooms sold 499 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total transaction of $87,419.81. Following the completion of the sale, the director owned 2,844 shares in the company, valued at $498,240.36. The trade was a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edward Rizzuti sold 600 shares of Alamo Group stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the transaction, the executive vice president owned 10,857 shares of the company’s stock, valued at $1,855,787.01. This represents a 5.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.06% of the company’s stock.

Institutional Trading of Alamo Group

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Alamo Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company’s stock valued at $134,000,000 after acquiring an additional 12,499 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Alamo Group by 9.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock valued at $113,562,000 after purchasing an additional 57,456 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Alamo Group by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 462,758 shares of the industrial products company’s stock valued at $77,683,000 after purchasing an additional 31,860 shares during the period. First Trust Advisors LP grew its holdings in Alamo Group by 13.1% during the fourth quarter. First Trust Advisors LP now owns 445,105 shares of the industrial products company’s stock valued at $74,720,000 after purchasing an additional 51,618 shares during the period. Finally, State Street Corp increased its position in Alamo Group by 1.3% in the fourth quarter. State Street Corp now owns 409,570 shares of the industrial products company’s stock worth $68,755,000 after buying an additional 5,153 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.