Short Interest in Tate & Lyle PLC (OTCMKTS:TATYY) Rises By 73.3%

Key Points

• Short interest in Tate & Lyle PLC has increased by 73.3% in July, reaching a total of 2,600 shares.
• Barclays and Citigroup have upgraded Tate & Lyle's rating to "strong-buy," reflecting positive analyst sentiment.
• The company announced a dividend increase to $0.6696 per share, significantly up from the previous $0.33, indicating an attractive dividend yield.

Tate & Lyle PLC (OTCMKTS:TATYY - Get Free Report) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 2,600 shares, anincreaseof73.3% from the June 30th total of 1,500 shares. Based on an average trading volume of 1,900 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 1,900 shares, the days-to-cover ratio is currently 1.4 days.

Tate & Lyle Stock Up 2.6%

OTCMKTS:TATYY traded up $0.76 during mid-day trading on Friday, reaching $30.07. 1,337 shares of the stock were exchanged, compared to its average volume of 992. The company has a 50 day simple moving average of $29.41 and a 200-day simple moving average of $29.37. The company has a current ratio of 2.16, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. Tate & Lyle has a 1 year low of $24.61 and a 1 year high of $44.76.

Tate & Lyle Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, June 23rd were paid a dividend of $0.6696 per share. The ex-dividend date was Friday, June 20th. This represents a yield of 319.0%. This is a boost from Tate & Lyle's previous dividend of $0.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TATYY shares. UBS Group upgraded Tate & Lyle to a "hold" rating in a report on Tuesday, June 24th. Citigroup upgraded Tate & Lyle from a "hold" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, Barclays upgraded Tate & Lyle from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd.

Tate & Lyle Company Profile

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.