Industrias Bachoco (NYSE:IBA) Sees Unusually-High Trading Volume

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBAGet Rating) shares saw unusually-strong trading volume on Wednesday . Approximately 2,757 shares changed hands during trading, a decline of 78% from the previous session’s volume of 12,610 shares.The stock last traded at $41.00 and had previously closed at $43.62.

A number of research firms have issued reports on IBA. StockNews.com upgraded shares of Industrias Bachoco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 30th. TheStreet cut Industrias Bachoco from a “b” rating to a “c+” rating in a research note on Wednesday, February 16th.

The firm has a fifty day simple moving average of $45.90 and a 200-day simple moving average of $42.84. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 7.83 and a beta of 0.77.

Industrias Bachoco (NYSE:IBAGet Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.85. Industrias Bachoco had a return on equity of 10.54% and a net margin of 5.88%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, research analysts anticipate that Industrias Bachoco, S.A.B. de C.V. will post 4.58 earnings per share for the current year.

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, July 12th. Stockholders of record on Tuesday, May 17th will be issued a dividend of $1.8966 per share. This is a boost from Industrias Bachoco’s previous semi-annual dividend of $0.42. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, May 16th. Industrias Bachoco’s payout ratio is 9.22%.

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in shares of Industrias Bachoco by 51.2% in the fourth quarter. Signaturefd LLC now owns 839 shares of the company’s stock worth $36,000 after acquiring an additional 284 shares during the period. Advisor Group Holdings Inc. lifted its stake in Industrias Bachoco by 2,441.2% in the third quarter. Advisor Group Holdings Inc. now owns 864 shares of the company’s stock valued at $39,000 after buying an additional 830 shares during the period. Marshall Wace LLP acquired a new position in Industrias Bachoco in the fourth quarter valued at approximately $92,000. Bank of Nova Scotia acquired a new position in Industrias Bachoco in the first quarter valued at approximately $292,000. Finally, Virtu Financial LLC acquired a new position in Industrias Bachoco in the fourth quarter valued at approximately $266,000.

About Industrias Bachoco (NYSE:IBA)

Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. The company operates in two segments, Poultry and Others. It is primarily involved in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products.

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