Associated British Foods (OTCMKTS:ASBFY) Sees Large Volume Increase - Still a Buy?

Associated British Foods PLC (OTCMKTS:ASBFY - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 500,743 shares traded hands during trading, an increase of 885% from the previous session's volume of 50,817 shares.The stock last traded at $28.36 and had previously closed at $28.09.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada cut shares of Associated British Foods from a "moderate buy" rating to a "hold" rating in a report on Wednesday, May 14th.

Associated British Foods Stock Down 1.4%

The stock's 50 day simple moving average is $28.33 and its two-hundred day simple moving average is $26.11. The company has a current ratio of 1.61, a quick ratio of 0.75 and a debt-to-equity ratio of 0.27.

Associated British Foods Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 2nd will be given a dividend of $0.2274 per share. This represents a yield of 3.62%. The ex-dividend date is Friday, May 30th.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.