Alamo Group Inc. (NYSE:ALG) Sees Large Increase in Short Interest

Alamo Group Inc. (NYSE:ALG) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 212,900 shares, a growth of 9.9% from the March 15th total of 193,800 shares. Based on an average trading volume of 70,800 shares, the short-interest ratio is presently 3.0 days. Currently, 1.9% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALG. DA Davidson raised their target price on shares of Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday.

Insider Transactions at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the sale, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Institutional Trading of Alamo Group

A number of hedge funds have recently modified their holdings of ALG. Bank of New York Mellon Corp lifted its stake in shares of Alamo Group by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 113,146 shares of the industrial products company’s stock worth $16,269,000 after buying an additional 1,193 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Alamo Group by 82.1% during the 1st quarter. Citigroup Inc. now owns 16,027 shares of the industrial products company’s stock worth $2,305,000 after buying an additional 7,226 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Alamo Group by 25.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,008 shares of the industrial products company’s stock worth $576,000 after buying an additional 816 shares during the last quarter. Bank of Montreal Can increased its position in Alamo Group by 4.1% during the first quarter. Bank of Montreal Can now owns 4,296 shares of the industrial products company’s stock worth $640,000 after acquiring an additional 171 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Alamo Group during the first quarter worth about $1,136,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Stock Performance

Shares of ALG stock opened at $212.90 on Wednesday. The stock has a market cap of $2.57 billion, a P/E ratio of 18.74 and a beta of 1.04. 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 company has a fifty day moving average price of $212.48 and a two-hundred day moving average price of $198.17. Alamo Group has a one year low of $157.74 and a one year high of $231.40.

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

Alamo Group Dividend Announcement

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

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.