Alamo Group Inc. (NYSE:ALG) Short Interest Up 9.9% in March

Alamo Group Inc. (NYSE:ALG) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 212,900 shares, an increase of 9.9% from the March 15th total of 193,800 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 70,800 shares, the short-interest ratio is currently 3.0 days.

Analyst Ratings Changes

ALG has been the topic of several analyst reports. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson raised their price target on shares of Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th.

Alamo Group Trading Down 1.0 %

Shares of ALG stock opened at $212.90 on Wednesday. The firm has a market cap of $2.57 billion, a P/E ratio of 18.74 and a beta of 1.04. Alamo Group has a 1-year low of $157.74 and a 1-year high of $231.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. The firm’s 50-day simple moving average is $212.48 and its 200-day simple moving average is $198.17.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.22). The company had revenue of $417.54 million for the quarter. Alamo Group had a return on equity of 15.52% and a net margin of 8.06%. As a group, equities analysts forecast that Alamo Group will post 13.17 EPS for the current year.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Alamo Group’s payout ratio is currently 9.15%.

Insider Activity at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the sale, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at approximately $4,299,647.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. raised its holdings in Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after buying an additional 47 shares during the period. Tower Research Capital LLC TRC raised its holdings in Alamo Group by 33.5% in the second quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock valued at $50,000 after buying an additional 68 shares during the period. Alliancebernstein L.P. raised its holdings in Alamo Group by 0.5% in the third quarter. Alliancebernstein L.P. now owns 13,851 shares of the industrial products company’s stock valued at $1,694,000 after buying an additional 70 shares during the period. Los Angeles Capital Management LLC raised its holdings in Alamo Group by 0.8% in the third quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock valued at $1,592,000 after buying an additional 72 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in Alamo Group by 0.6% in the third quarter. UBS Asset Management Americas Inc. now owns 13,052 shares of the industrial products company’s stock valued at $1,596,000 after buying an additional 73 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

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.