Techtronic Industries Co. (OTCMKTS:TTNDY) Sees Significant Decrease in Short Interest

Key Points

• Techtronic Industries Co. experienced a substantial decline in short interest, with a 58.6% drop from 5,800 shares to 2,400 shares between September 15th and September 30th.
• Wall Street analysts have shown a positive outlook on the stock, with one firm upgrading it to a "strong-buy" rating and another changing its rating from "strong sell" to "hold."
• The company has recently increased its dividend to $0.7762 per share, up from $0.74, which corresponds to a remarkable dividend yield of 231.0%.

Techtronic Industries Co. (OTCMKTS:TTNDY - Get Free Report) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 2,400 shares, a drop of 58.6% from the September 15th total of 5,800 shares. Based on an average daily volume of 51,900 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 51,900 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TTNDY. CLSA upgraded shares of Techtronic Industries to a "strong-buy" rating in a research note on Monday, June 23rd. Zacks Research upgraded shares of Techtronic Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy".

Techtronic Industries Stock Performance

Shares of TTNDY stock opened at $59.15 on Friday. The firm has a 50 day moving average price of $62.93 and a two-hundred day moving average price of $57.98. Techtronic Industries has a 12-month low of $44.44 and a 12-month high of $75.74.

Techtronic Industries Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, September 29th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.7762 per share. This is a boost from Techtronic Industries's previous dividend of $0.74. This represents a dividend yield of 231.0%. The ex-dividend date of this dividend was Wednesday, September 3rd.

About Techtronic Industries

Techtronic Industries Company Limited engages in the design, manufacture, and marketing of power tools, outdoor power equipment, and floorcare and cleaning products in the North America, Europe, and internationally. The company operates through Power Equipment, and Floorcare & Cleaning Segments. It offers power tools, power tool accessories, outdoor products, and outdoor product accessories under the MILWAUKEE, EMPIRE, AEG, RYOBI, HOMELITE, and HART brands, as well as to original equipment manufacturer (OEM) customers.

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