Short Interest in Alamo Group Inc. (NYSE:ALG) Drops By 12.9%
Alamo Group Inc. (NYSE:ALG – Get Free Report) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 138,200 shares, a decline of 12.9% from the November 15th total of 158,700 shares. Based on an average daily trading volume, of 50,000 shares, the short-interest ratio is presently 2.8 days. Approximately 1.2% of the company’s stock are sold short.
Analysts Set New Price Targets
ALG has been the subject of a number of recent analyst reports. Robert W. Baird initiated coverage on shares of Alamo Group in a research report on Thursday, August 31st. They issued an “outperform” rating and a $201.00 price target for the company. StockNews.com initiated coverage on shares of Alamo Group in a research report on Thursday, October 5th. They issued a “buy” rating for the company.
Get Our Latest Stock Analysis on ALG
Insiders Place Their Bets
In other news, EVP Dan Edward Malone sold 1,394 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $182.14, for a total transaction of $253,903.16. Following the completion of the transaction, the executive vice president now directly owns 5,799 shares of the company’s stock, valued at $1,056,229.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Richard J. Wehrle sold 1,116 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $186.11, for a total transaction of $207,698.76. Following the completion of the sale, the chief financial officer now directly owns 25,941 shares in the company, valued at $4,827,879.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dan Edward Malone sold 1,394 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $182.14, for a total transaction of $253,903.16. Following the sale, the executive vice president now owns 5,799 shares of the company’s stock, valued at $1,056,229.86. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Hedge Funds Weigh In On Alamo Group
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in Alamo Group by 33.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 68 shares during the period. NewEdge Advisors LLC grew its stake in Alamo Group by 5,380.0% in the 1st quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 269 shares during the period. FMR LLC grew its stake in Alamo Group by 17.4% in the 2nd quarter. FMR LLC now owns 701 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 104 shares during the period. Captrust Financial Advisors grew its stake in Alamo Group by 30.1% in the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 223 shares during the period. Finally, Huntington National Bank grew its stake in Alamo Group by 34.3% in the 2nd quarter. Huntington National Bank now owns 795 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 203 shares during the period. 91.15% of the stock is owned by hedge funds and other institutional investors.
Alamo Group Trading Down 0.8 %
Shares of NYSE ALG traded down $1.64 during mid-day trading on Friday, reaching $202.31. The company had a trading volume of 154,448 shares, compared to its average volume of 54,044. The company has a current ratio of 3.98, a quick ratio of 2.29 and a debt-to-equity ratio of 0.35. Alamo Group has a 52 week low of $137.47 and a 52 week high of $205.63. The business’s 50-day moving average is $179.11 and its 200-day moving average is $179.15. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 18.11 and a beta of 1.04.
Alamo Group (NYSE:ALG – Get Free Report) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.37. Alamo Group had a net margin of 8.07% and a return on equity of 15.92%. The business had revenue of $419.64 million for the quarter. Equities analysts expect that Alamo Group will post 11.59 earnings per share for the current year.
Alamo Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, October 13th. Alamo Group’s payout ratio is currently 7.88%.
Alamo Group Company Profile (Get Free Report)
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.
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Original: MarketBeat News Feed: Short Interest in Alamo Group Inc. (NYSE:ALG) Drops By 12.9%