Phibro Animal Health Corporation (NASDAQ:PAHC) to Issue $0.12 Quarterly Dividend

Key Points

• Phibro Animal Health Corporation announced a quarterly dividend of $0.12 per share, with an annualized dividend of $0.48 and a yield of 1.71%, supported by a dividend payout ratio of 23.9%.
• Shares of PAHC fell 3.1% to $28.01, with a market cap of $1.14 billion and 12-month trading range between $16.16 and $31.80.
• Analysts have mixed ratings on the stock, with a consensus “Hold” rating and price targets ranging from $24.00 to $35.00, following several upgrades from major banks.

Phibro Animal Health Corporation (NASDAQ:PAHC - Get Free Report) declared a quarterly dividend on Tuesday, July 29th, RTT News reports. Stockholders of record on Wednesday, September 3rd will be given a dividend of 0.12 per share on Wednesday, September 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%.

Phibro Animal Health has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Phibro Animal Health to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.9%.

Phibro Animal Health Stock Down 3.1%

Shares of PAHC stock traded down $0.91 during trading hours on Tuesday, reaching $28.01. The company had a trading volume of 232,567 shares, compared to its average volume of 260,217. Phibro Animal Health has a 12 month low of $16.16 and a 12 month high of $31.80. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.91 and a quick ratio of 1.23. The business has a fifty day simple moving average of $26.40 and a 200-day simple moving average of $23.14. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 35.91, a price-to-earnings-growth ratio of 0.49 and a beta of 0.75.

Phibro Animal Health (NASDAQ:PAHC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. Phibro Animal Health had a return on equity of 30.51% and a net margin of 2.68%. The business had revenue of $347.80 million for the quarter, compared to analysts' expectations of $352.41 million. On average, research analysts expect that Phibro Animal Health will post 1.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PAHC shares. BNP Paribas raised Phibro Animal Health to a "hold" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. upgraded Phibro Animal Health from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $25.00 to $35.00 in a research note on Monday, July 7th. Morgan Stanley set a $26.00 price objective on Phibro Animal Health and gave the company an "equal weight" rating in a research note on Wednesday, June 25th. BNP Paribas Exane raised shares of Phibro Animal Health from an "underperform" rating to a "neutral" rating and set a $24.00 price target on the stock in a report on Monday, June 16th. Finally, Wall Street Zen raised shares of Phibro Animal Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Phibro Animal Health currently has a consensus rating of "Hold" and an average price target of $24.40.

Hedge Funds Weigh In On Phibro Animal Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Phibro Animal Health by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,164 shares of the company's stock valued at $260,000 after buying an additional 546 shares during the last quarter. Jane Street Group LLC grew its position in shares of Phibro Animal Health by 65.3% during the first quarter. Jane Street Group LLC now owns 33,917 shares of the company's stock worth $724,000 after purchasing an additional 13,404 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Phibro Animal Health by 74.3% during the first quarter. Millennium Management LLC now owns 362,030 shares of the company's stock worth $7,733,000 after purchasing an additional 154,281 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Phibro Animal Health Company Profile

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.

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