Ashtead Group PLC (OTCMKTS:ASHTY) Short Interest Down 90.0% in August

Key Points

• Ashtead Group PLC saw a dramatic decline in short interest of 90.0% in August, with total short interest falling to 2,100 shares from 21,000 shares.
• The company's stock decreased by 0.4% to $294.12, with a market capitalization of $31.19 billion, and a price-to-earnings ratio of 21.55.
• Ashtead Group announced an increased dividend of $2.81 per share, representing a yield of 155.0%, to be paid on September 25th to investors of record as of August 11th.

Ashtead Group PLC (OTCMKTS:ASHTY - Get Free Report) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 2,100 shares, a drop of 90.0% from the August 15th total of 21,000 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 18,600 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 18,600 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company's stock are sold short.

Ashtead Group Stock Down 0.4%

Shares of Ashtead Group stock traded down $1.08 on Thursday, reaching $294.12. The company's stock had a trading volume of 7,777 shares, compared to its average volume of 35,697. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 21.55 and a beta of 1.73. Ashtead Group has a 52 week low of $186.01 and a 52 week high of $337.95. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.98. The firm's fifty day simple moving average is $279.15 and its two-hundred day simple moving average is $246.82.

Ashtead Group (OTCMKTS:ASHTY - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $3.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.76 by ($0.96). The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.79 billion. Ashtead Group had a return on equity of 20.94% and a net margin of 13.68%. Equities analysts anticipate that Ashtead Group will post 15.51 earnings per share for the current year.

Ashtead Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, August 11th will be paid a $2.81 dividend. This represents a yield of 155.0%. This is an increase from Ashtead Group's previous dividend of $1.44. The ex-dividend date of this dividend is Friday, August 8th. Ashtead Group's payout ratio is currently 41.17%.

About Ashtead Group

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.

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