Gruma (OTCMKTS:GPAGF) Shares Down 8.6% – Should You Sell?

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

Wall Street Analyst Weigh In

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

Gruma Trading Down 8.6%

The company’s 50-day simple moving average is $16.95 and its 200 day simple moving average is $16.93.

Gruma Dividend Announcement

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

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.