Associated British Foods (OTCMKTS:ASBFY) Sees Large Volume Increase - Time to Buy?

Key Points

• Associated British Foods experienced a significant increase in trading volume, with approximately 78,136 shares changing hands, marking a 33% rise from the previous session.
• Royal Bank Of Canada lowered its rating on Associated British Foods from "moderate buy" to "hold" on May 14th, affecting investor sentiment.
• The company recently paid a dividend of $0.2274 with a yield of 3.62%, but also noted a decline in stock price by 0.3% during this period.

Associated British Foods PLC (OTCMKTS:ASBFY - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 78,136 shares changed hands during mid-day trading, an increase of 33% from the previous session's volume of 58,854 shares.The stock last traded at $30.20 and had previously closed at $30.38.

Analyst Upgrades and Downgrades

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

Associated British Foods Stock Down 0.3%

The company has a quick ratio of 0.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $28.65 and a two-hundred day simple moving average of $26.58.

Associated British Foods Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 2nd were paid a $0.2274 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 3.62%.

About Associated British Foods

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.

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