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

Alamo Group Inc. (NYSE:ALG) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 370,400 shares, a decrease of 6.3% from the November 30th total of 395,100 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average daily volume of 91,800 shares, the days-to-cover ratio is presently 4.0 days.

Alamo Group Trading Up 0.3 %

Shares of ALG opened at $185.91 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. Alamo Group has a 1-year low of $163.74 and a 1-year high of $231.40. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 18.72 and a beta of 1.10. The firm has a 50 day simple moving average of $191.05 and a 200-day simple moving average of $182.09.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird increased their price target on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Insider Activity at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP purchased a new position in Alamo Group in the third quarter valued at approximately $35,759,000. Assenagon Asset Management S.A. raised its stake in shares of Alamo Group by 1,486.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock valued at $12,823,000 after purchasing an additional 66,698 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Alamo Group by 17.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after buying an additional 50,327 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Alamo Group by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after purchasing an additional 45,422 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Alamo Group by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock valued at $66,888,000 after buying an additional 33,190 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

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.