Alamo Group Inc. (NYSE:ALG) Short Interest Down 9.9% in July

Alamo Group Inc. (NYSE:ALGGet Rating) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 131,900 shares, a decline of 9.9% from the July 15th total of 146,400 shares. Based on an average daily volume of 39,600 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.1% of the company’s stock are sold short.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALG. DA Davidson raised their price target on Alamo Group to $136.00 in a research report on Tuesday, August 9th. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Finally, TheStreet lowered shares of Alamo Group from a “b-” rating to a “c+” rating in a research report on Thursday, May 19th.

Insider Buying and Selling at Alamo Group

In other news, Director Robert P. Bauer bought 500 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were bought at an average cost of $113.99 per share, with a total value of $56,995.00. Following the transaction, the director now directly owns 7,561 shares in the company, valued at approximately $861,878.39. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alamo Group news, Director Robert P. Bauer bought 500 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was bought at an average cost of $113.99 per share, with a total value of $56,995.00. Following the completion of the transaction, the director now directly owns 7,561 shares of the company’s stock, valued at approximately $861,878.39. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard Hodges Raborn sold 1,553 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $136.55, for a total value of $212,062.15. Following the completion of the transaction, the executive vice president now directly owns 8,710 shares in the company, valued at $1,189,350.50. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Alamo Group

Large investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. bought a new stake in shares of Alamo Group in the 2nd quarter worth about $27,000. Laurel Wealth Planning LLC acquired a new stake in shares of Alamo Group during the first quarter worth approximately $65,000. FMR LLC raised its stake in shares of Alamo Group by 17.4% in the second 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 last quarter. KBC Group NV acquired a new position in shares of Alamo Group in the 2nd quarter worth approximately $92,000. Finally, Captrust Financial Advisors grew its position in Alamo Group by 30.1% during the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 223 shares during the last quarter. 91.33% of the stock is currently owned by institutional investors.

Alamo Group Stock Performance

Alamo Group stock traded down $1.21 during trading hours on Wednesday, hitting $139.70. The stock had a trading volume of 924 shares, compared to its average volume of 33,544. The company has a 50-day moving average of $120.96 and a two-hundred day moving average of $129.01. The company has a quick ratio of 2.09, a current ratio of 3.95 and a debt-to-equity ratio of 0.48. Alamo Group has a fifty-two week low of $108.35 and a fifty-two week high of $160.71. The company has a market cap of $1.67 billion, a PE ratio of 20.04 and a beta of 0.99.

Alamo Group (NYSE:ALGGet Rating) last issued its earnings results on Wednesday, August 3rd. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.33. Alamo Group had a return on equity of 12.03% and a net margin of 5.84%. During the same period last year, the business earned $1.97 earnings per share. On average, equities research analysts anticipate that Alamo Group will post 8.61 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 18th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, July 15th. Alamo Group’s dividend payout ratio is 10.24%.

About Alamo Group

(Get Rating)

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.

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