Alamo Group Inc. (NYSE:ALG) Short Interest Down 9.5% in July

Alamo Group Inc. (NYSE:ALG) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 270,500 shares, a decline of 9.5% from the June 30th total of 298,900 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily volume of 78,000 shares, the days-to-cover ratio is presently 3.5 days.

Alamo Group Stock Down 5.7 %

ALG stock traded down $10.97 during trading on Thursday, hitting $181.75. 58,179 shares of the stock traded hands, compared to its average volume of 73,706. Alamo Group has a 1 year low of $157.74 and a 1 year high of $231.40. The firm’s 50 day moving average is $180.36 and its two-hundred day moving average is $198.36. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 16.26 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.29 and a quick ratio of 2.49.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.44). Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The firm had revenue of $416.30 million for the quarter. During the same quarter last year, the business earned $3.03 earnings per share. On average, sell-side analysts anticipate that Alamo Group will post 12.3 EPS for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Tuesday, July 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, July 16th. Alamo Group’s dividend payout ratio (DPR) is 9.25%.

Institutional Trading of Alamo Group

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Alamo Group by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after acquiring an additional 7,121 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Alamo Group by 48.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after acquiring an additional 193,463 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Alamo Group by 16.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after acquiring an additional 52,250 shares during the period. Janus Henderson Group PLC grew its stake in shares of Alamo Group by 42.4% in the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after acquiring an additional 51,292 shares during the period. Finally, Tributary Capital Management LLC boosted its holdings in shares of Alamo Group by 62.9% in the second quarter. Tributary Capital Management LLC now owns 91,640 shares of the industrial products company’s stock worth $15,854,000 after buying an additional 35,388 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALG. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson reduced their target price 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.

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.