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

Alamo Group Inc. (NYSE:ALG) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 298,900 shares, an increase of 5.4% from the June 15th total of 283,600 shares. Based on an average daily volume of 72,500 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. lifted its stake in shares of Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 47 shares during the period. Quest Partners LLC acquired a new stake in Alamo Group in the fourth quarter worth approximately $52,000. Bessemer Group Inc. lifted its position in Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 264 shares during the period. Duncker Streett & Co. Inc. acquired a new stake in shares of Alamo Group in the first quarter valued at $82,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Alamo Group during the 4th quarter valued at about $208,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Up 0.5 %

NYSE:ALG opened at $185.58 on Thursday. The stock has a 50-day simple moving average of $181.91 and a 200 day simple moving average of $199.30. Alamo Group has a one year low of $157.74 and a one year high of $231.40. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 16.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. The business had revenue of $425.59 million during the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same quarter last year, the firm posted $2.79 earnings per share. Sell-side analysts predict that Alamo Group will post 12.3 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Tuesday, July 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. Alamo Group’s dividend payout ratio is currently 9.25%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALG. DA Davidson reduced their price target on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday.

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.