Gruma (OTCMKTS:GPAGF) Stock Price Down 8.6% – Here’s What Happened

Shares of Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) fell 8.6% during mid-day trading on Tuesday . The company traded as low as $17.00 and last traded at $17.00. 2,000 shares changed hands during mid-day trading, an increase of 177% from the average session volume of 721 shares. The stock had previously closed at $18.5950.

Analyst Ratings Changes

Separately, Barclays lowered shares of Gruma from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Gruma Stock Down 8.6%

The stock has a fifty day moving average of $16.95 and a 200-day moving average of $16.93.

Gruma Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, October 10th were given a dividend of $1.44 per share. This represents a dividend yield of 184.0%. The ex-dividend date was Thursday, October 9th.

About Gruma

Gruma, SAB. de C.V. is a Mexico-based multinational food processing company and one of the world’s leading producers of corn flour and tortillas. The company’s core business activities include the manufacture, marketing and sale of corn flour, wheat flour and related products under a portfolio of well-known brands such as Maseca, Mission and Guerrero. Gruma also produces and distributes a variety of flatbreads, snack foods and bakery items tailored to both retail consumers and the foodservice industry.

Founded in 1949 by Roberto González Barrera, Gruma has grown from a single tortilla plant in Monterrey into a global enterprise.