Herco Companies, Inc. (NASDAQ: HURC – Get Rating) Short interest spiked significantly in July. As of July 31, a total of 27,800 shares were low yielding, up 36.9% from the July 15 total of 20,300 shares. Based on the average daily volume of 15,200 shares, the day-to-cover ratio is currently 1.8 days. Currently, 0.5% of the company’s shares are shorted.
Hedge funds weigh on Heroku companies
Many hedge funds and other institutional investors have recently changed their positions in the business. Diamond Hill Capital Management Inc. increased its holdings in Heroco companies by 21.7% in the fourth quarter. Diamond Hill Capital Management Inc. US now owns 16,164 shares of Scientific and Technical Equipment Company valued at $480,000 after purchasing an additional 2,879 shares in the previous quarter. Bank of New York Mellon Corp increased its stake in Herco Companies by 2.8% in the first quarter. After buying an additional 858 shares last quarter, Bank of New York Mellon Corp. now 31,213 shares of Scientific and Technical Instruments Company worth $984,000. Finally, Pacific Ridge Capital Partners LLC increased its stake in Heroco Companies by 1.4% during the first quarter. Pacific Ridge Capital Partners LLC now owns 179,157 shares of Scientific and Technological Instruments Company valued at $5,647,000 after purchasing an additional 2,447 shares during the period. 76.52% of the shares are currently owned by institutional investors and hedge funds.
Wall Street analysts forecast growth
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Separately, StockNews.com downgraded Heroku companies from a “strong buy” rating to a “buy” rating in a report Monday, June 6th.
Herco Companies’ stock fell 0.6%
NASDAQ SHARES: HURC traded at $25.26, down $0.14 during Friday’s trade. 3,743 shares of the company were traded while the average volume was 11,091. The stock has a market cap of $165.96 million, a price-to-earnings ratio of 18.44 and a beta of 0.50. The company has a 50-day moving average of $25.21 and a 200-day moving average of $28.96. Herco Companies yearly low is $23.77 and yearly high is $35.38.
Herco Companies (NASDAQ:HURC – GET RATINGS) last reported its quarterly earnings results on Friday, June 3rd. The Scientific and Technical Instruments Company reported earnings per share (EPS) of $0.30 for the quarter. The company had revenue of $62.83 million for the quarter. Herco companies had a return on equity of 3.90% and a net margin of 3.65%.
HERCO companies declare dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 11th. A dividend of $0.15 per share was paid to shareholders of record on Monday, June 27th. The ex-dividend date of this dividend was Friday June 24th. That equates to an annual dividend of $0.60 and a dividend yield of 2.38%. Herco Companies’ payout ratio is currently 43.80%.
About Heroku Company
Herco Companies, Inc., an industrial technology company, designs, manufactures and sells computerized machine tools to metalworking companies worldwide. The Company’s main products include general-purpose computer-controlled machine tools, including vertical and horizontal machining centers, turning centers and machine tools.
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