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

Alamo Group, Inc. (NYSE:ALG) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 494,209 shares, a drop of 12.8% from the February 26th total of 567,031 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily trading volume, of 207,200 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Nina C. Grooms sold 499 shares of the company’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 transaction, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Paul Hureau purchased 460 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $164.40 per share, with a total value of $75,624.00. Following the completion of the acquisition, the chief executive officer owned 12,506 shares of the company’s stock, valued at approximately $2,055,986.40. The trade was a 3.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP acquired a new position in Alamo Group during the 2nd quarter worth about $51,427,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Alamo Group in the 4th quarter valued at about $39,213,000. Goldman Sachs Group Inc. increased its position in Alamo Group by 239.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 157,291 shares of the industrial products company’s stock valued at $26,404,000 after acquiring an additional 110,941 shares in the last quarter. Tributary Capital Management LLC raised its stake in shares of Alamo Group by 92.5% in the third quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock worth $38,895,000 after acquiring an additional 97,898 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Alamo Group by 72.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 230,180 shares of the industrial products company’s stock worth $38,641,000 after acquiring an additional 96,369 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Alamo Group Stock Down 1.4%

Shares of ALG opened at $164.68 on Tuesday. The company has a market capitalization of $2.00 billion, a P/E ratio of 19.17, a PEG ratio of 1.01 and a beta of 1.10. Alamo Group has a one year low of $156.29 and a one year high of $233.29. The business’s 50 day simple moving average is $190.25 and its 200-day simple moving average is $182.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.57 and a quick ratio of 2.82.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share 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 for the quarter, compared to analyst estimates of $405.18 million. As a group, sell-side analysts predict that Alamo Group will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, January 16th. Alamo Group’s dividend payout ratio is 15.83%.

Alamo Group Company Profile

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.