Ingredion Inc (NYSE:INGR) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $128.33.
A number of equities research analysts recently issued reports on INGR shares. TheStreet cut Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. Zacks Investment Research raised Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th.
Ingredion stock traded up $0.15 during midday trading on Friday, reaching $80.75. The stock had a trading volume of 11,987 shares, compared to its average volume of 563,113. Ingredion has a 12 month low of $75.67 and a 12 month high of $113.69. The business has a 50-day moving average of $81.33. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 11.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.41 and a quick ratio of 1.45.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.12). Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Ingredion will post 6.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, June 28th. Ingredion’s payout ratio is presently 36.13%.
In related news, CFO James D. Gray bought 1,000 shares of Ingredion stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $78.37 per share, with a total value of $78,370.00. Following the acquisition, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at $1,192,948.14. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INGR. Daiwa Securities Group Inc. grew its holdings in shares of Ingredion by 9.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,430 shares of the company’s stock worth $222,000 after purchasing an additional 200 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Ingredion by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,089 shares of the company’s stock worth $557,000 after purchasing an additional 110 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Ingredion by 21.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 49,662 shares of the company’s stock worth $4,539,000 after purchasing an additional 8,680 shares in the last quarter. Toronto Dominion Bank lifted its position in Ingredion by 21.7% in the 4th quarter. Toronto Dominion Bank now owns 9,637 shares of the company’s stock worth $880,000 after buying an additional 1,718 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Ingredion by 23.4% in the 4th quarter. California Public Employees Retirement System now owns 239,784 shares of the company’s stock worth $21,916,000 after buying an additional 45,401 shares during the last quarter. 89.38% of the stock is owned by institutional investors.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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