Short Interest in Alamo Group Inc. (NYSE:ALG) Declines By 6.3%

Alamo Group Inc. (NYSE:ALG - Get Free Report) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 370,400 shares, a drop of 6.3% from the November 30th total of 395,100 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average trading volume of 91,800 shares, the short-interest ratio is currently 4.0 days.

Alamo Group Price Performance

Alamo Group stock traded up $0.51 during midday trading on Tuesday, reaching $185.91. 113,956 shares of the company were exchanged, compared to its average volume of 78,401. The firm's 50-day simple moving average is $190.70 and its 200-day simple moving average is $182.06. Alamo Group has a 1 year low of $163.74 and a 1 year high of $231.40. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. Alamo Group's dividend payout ratio (DPR) is presently 10.47%.

Insider Activity

In other news, VP Janet S. Pollock sold 257 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the transaction, the vice president now owns 3,360 shares in the company, valued at $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Edward Rizzuti sold 276 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Alamo Group

A number of institutional investors have recently modified their holdings of ALG. JPMorgan Chase & Co. grew its stake in Alamo Group by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company's stock worth $13,790,000 after acquiring an additional 9,710 shares during the period. Tidal Investments LLC grew its position in shares of Alamo Group by 3.8% in the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company's stock valued at $557,000 after purchasing an additional 113 shares during the period. Virtu Financial LLC acquired a new position in Alamo Group in the third quarter valued at $273,000. Geode Capital Management LLC lifted its position in Alamo Group by 0.3% during the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company's stock worth $41,834,000 after buying an additional 670 shares during the period. Finally, Barclays PLC boosted its stake in Alamo Group by 204.7% in the 3rd quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock worth $4,039,000 after buying an additional 15,061 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their price objective on Alamo Group from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th.

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.