Alamo Group, Inc. (NYSE:ALG) Short Interest Down 12.8% in March

Alamo Group, Inc. (NYSE:ALG) was the recipient of a significant 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. Based on an average daily volume of 207,200 shares, the days-to-cover ratio is currently 2.4 days. Approximately 4.1% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a research report on Friday, March 27th. DA Davidson reissued a “neutral” rating and issued a $190.00 target price on shares of Alamo Group in a report on Monday, March 9th. William Blair initiated coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating for the company. Zacks Research lowered Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Finally, CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.00.

Insiders Place Their Bets

In other Alamo Group news, Director Nina C. Grooms sold 499 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total transaction of $87,419.81. Following the sale, the director directly owned 2,844 shares of the company’s stock, valued at approximately $498,240.36. This represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Paul Hureau purchased 460 shares of Alamo Group stock in a transaction dated Monday, March 9th. The stock was acquired at an average price of $164.40 per share, for a total transaction of $75,624.00. Following the completion of the transaction, the chief executive officer owned 12,506 shares in the company, valued at approximately $2,055,986.40. The trade was a 3.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALG. Global Retirement Partners LLC lifted its holdings in Alamo Group by 136.2% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares during the period. Jones Financial Companies Lllp grew its position in Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after buying an additional 314 shares in the last quarter. MAI Capital Management acquired a new position in Alamo Group during the 3rd quarter valued at about $73,000. Kestra Advisory Services LLC acquired a new position in Alamo Group during the 4th quarter valued at about $76,000. Finally, State of Wyoming raised its position in shares of Alamo Group by 76.5% during the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock worth $79,000 after buying an additional 205 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Up 3.3%

ALG stock opened at $170.38 on Thursday. The stock has a market cap of $2.06 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The firm’s 50-day simple moving average is $189.34 and its 200 day simple moving average is $182.51. Alamo Group has a fifty-two week low of $156.29 and a fifty-two week high of $233.29. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) 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 firm 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 year.

Alamo Group Increases Dividend

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