Alamo Group Inc. (NYSE:ALG) Sees Significant Drop in Short Interest

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

Alamo Group Price Performance

Shares of NYSE ALG traded down $8.82 during trading on Thursday, reaching $183.90. The company had a trading volume of 104,543 shares, compared to its average volume of 74,021. Alamo Group has a 52 week low of $157.74 and a 52 week high of $231.40. The stock has a market cap of $2.22 billion, a PE ratio of 16.26 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. The business’s 50 day moving average price is $180.36 and its 200-day moving average price is $198.36.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results 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 return on equity of 14.82% and a net margin of 7.92%. The business had revenue of $416.30 million for the quarter. During the same period last year, the company posted $3.03 EPS. Analysts expect that Alamo Group will post 12.3 earnings per share for the current year.

Alamo Group Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Contravisory Investment Management Inc. boosted its holdings in shares of Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after buying an additional 47 shares during the period. Shaker Investments LLC OH boosted its holdings in shares of Alamo Group by 1.5% in the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock valued at $911,000 after buying an additional 58 shares during the period. Diversified Trust Co boosted its holdings in shares of Alamo Group by 5.2% in the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after buying an additional 72 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Alamo Group by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock valued at $900,000 after buying an additional 100 shares during the period. Finally, Aurora Investment Counsel boosted its holdings in shares of Alamo Group by 2.0% in the first quarter. Aurora Investment Counsel now owns 5,657 shares of the industrial products company’s stock valued at $1,292,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ALG shares. DA Davidson dropped 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 note on Tuesday, May 7th. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th.

Alamo Group Company Profile

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.