Short Interest in Orkla ASA (OTCMKTS:ORKLY) Declines By 49.6%

Orkla ASA (OTCMKTS:ORKLY - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 18,800 shares, a decline of 49.6% from the March 15th total of 37,300 shares. Based on an average trading volume of 51,300 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the shares of the stock are sold short.

Orkla ASA Price Performance

OTCMKTS:ORKLY traded down $0.04 during trading hours on Monday, reaching $11.76. The company had a trading volume of 43,172 shares, compared to its average volume of 31,964. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $10.47 and a two-hundred day moving average of $9.58. Orkla ASA has a one year low of $6.57 and a one year high of $12.07. The firm has a market capitalization of $11.73 billion, a PE ratio of 21.00 and a beta of 0.53.

Orkla ASA (OTCMKTS:ORKLY - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.14 earnings per share for the quarter. The business had revenue of $1.70 billion for the quarter. Orkla ASA had a net margin of 8.58% and a return on equity of 13.13%.

Orkla ASA Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, April 29th will be given a dividend of $0.6871 per share. The ex-dividend date of this dividend is Monday, April 28th. This is a positive change from Orkla ASA's previous dividend of $0.40. This represents a yield of 5.82%. Orkla ASA's dividend payout ratio is 121.43%.

Analyst Ratings Changes

Separately, Sanford C. Bernstein upgraded shares of Orkla ASA from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 9th.

About Orkla ASA

Orkla ASA engages in branded consumer goods, and industrial and financial investment businesses. The company offers branded products, including frozen pizza, ketchup, soups, sauces, bread toppings, and ready-to-eat meals through grocery channels, as well as food service, convenience stores, and petrol stations.