Tate & Lyle (OTCMKTS:TATYY) Shares Gap Down - Should You Sell?

Key Points

• Tate & Lyle's shares gapped down before trading on Tuesday, opening at $27.75 after closing at $29.46.
• Analysts show mixed sentiment, with Citigroup upgrading the stock to a "strong-buy" rating, while other analysts maintain a "hold" rating, leading to an average rating of "Buy."
• The company recently increased its dividend to $0.6696, significantly higher than the previous $0.33, representing a substantial dividend yield.

Tate & Lyle PLC (OTCMKTS:TATYY - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $29.46, but opened at $27.75. Tate & Lyle shares last traded at $27.75, with a volume of 41,704 shares trading hands.

Wall Street Analyst Weigh In

TATYY has been the subject of a number of analyst reports. Citigroup raised Tate & Lyle from a "hold" rating to a "strong-buy" rating in a report on Friday, May 16th. UBS Group raised Tate & Lyle to a "hold" rating in a report on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy".

Tate & Lyle Stock Performance

The company has a quick ratio of 1.21, a current ratio of 2.16 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $29.24 and a 200-day moving average of $28.98.

Tate & Lyle Increases Dividend

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

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.

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