Alamo Group Inc. (NYSE:ALG) Short Interest Up 9.9% in March

Alamo Group Inc. (NYSE:ALG) was the recipient of a large growth in short interest during the month of 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. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 70,800 shares, the days-to-cover ratio is currently 3.0 days.

Insiders Place Their Bets

In other news, EVP Michael A. Haberman sold 418 shares of Alamo Group stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the transaction, the executive vice president now directly owns 19,206 shares in the company, valued at approximately $4,299,647.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

A number of institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. lifted its position in shares of Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 47 shares during the period. Quadrature Capital Ltd lifted its position in shares of Alamo Group by 62.4% during the 4th quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock valued at $4,002,000 after acquiring an additional 7,311 shares during the period. Vanguard Group Inc. lifted its position in shares of Alamo Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after acquiring an additional 7,121 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Alamo Group by 6.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,214 shares of the industrial products company’s stock valued at $6,982,000 after acquiring an additional 2,060 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Alamo Group by 1.2% during the 4th quarter. Legal & General Group Plc now owns 29,866 shares of the industrial products company’s stock valued at $6,278,000 after acquiring an additional 350 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Performance

ALG opened at $212.90 on Wednesday. The business has a fifty day simple moving average of $212.48 and a 200 day simple moving average of $198.17. The company has a market capitalization of $2.57 billion, a PE ratio of 18.74 and a beta of 1.04. Alamo Group has a 1 year low of $157.74 and a 1 year high of $231.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts expect that Alamo Group will post 13.17 EPS for the current year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Tuesday, April 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.04 annualized dividend and a yield of 0.49%. Alamo Group’s dividend payout ratio (DPR) is presently 9.15%.

Analyst Ratings Changes

Several brokerages have recently commented on ALG. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson lifted their target price on Alamo Group from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th.

About Alamo Group

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.