Chicago Rivet & Machine Co. (NYSEAMERICAN:CVR) Sees Significant Drop in Short Interest

Chicago Rivet & Machine Co. (NYSEAMERICAN:CVR) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 6,100 shares, a drop of 15.3% from the February 13th total of 7,200 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average trading volume of 1,900 shares, the days-to-cover ratio is currently 3.2 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Chicago Rivet & Machine in a report on Monday, January 13th. They issued a “sell” rating for the company.

Chicago Rivet & Machine Trading Up 2.3 %

Shares of NYSEAMERICAN CVR traded up $0.31 during mid-day trading on Wednesday, hitting $14.01. The company had a trading volume of 365 shares, compared to its average volume of 1,876. Chicago Rivet & Machine has a 1-year low of $13.40 and a 1-year high of $22.27. The stock has a market cap of $13.59 million, a P/E ratio of -3.82 and a beta of 0.16.

Chicago Rivet & Machine Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.86%. Chicago Rivet & Machine’s dividend payout ratio (DPR) is -3.27%.

About Chicago Rivet & Machine

Chicago Rivet & Machine Co engages in the manufacturing and sale of rivets and specialty cold formed parts, as well as automatic rivet setting equipment and automated assembly systems. It operates through the following segments: Fasteners and Assembly Equipment. The Fasteners segment includes rivets, cold-formed fasteners, and parts and screw machine products.