Shares of Ingredion Incorporated (NYSE:INGR) have been assigned an average rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $130.00.
A number of equities analysts have issued reports on INGR shares. ValuEngine cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research report on Wednesday, January 24th. BMO Capital Markets cut their target price on shares of Ingredion from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Friday, May 4th. Citigroup cut shares of Ingredion from a “buy” rating to a “neutral” rating in a research report on Friday, May 4th. Finally, Credit Suisse Group set a $130.00 target price on shares of Ingredion and gave the stock a “buy” rating in a research report on Friday, May 4th.
Shares of Ingredion opened at $113.38 on Friday, according to MarketBeat Ratings. The company has a quick ratio of 1.59, a current ratio of 2.52 and a debt-to-equity ratio of 0.49. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76. Ingredion has a 12-month low of $112.78 and a 12-month high of $114.93.
Ingredion (NYSE:INGR) last announced its earnings results on Thursday, May 3rd. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ingredion had a net margin of 8.71% and a return on equity of 19.75%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. research analysts anticipate that Ingredion will post 8.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Monday, July 2nd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Friday, June 29th. Ingredion’s dividend payout ratio is presently 31.17%.
In other news, Chairman Ilene S. Gordon sold 28,141 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $111.33, for a total value of $3,132,937.53. Following the completion of the transaction, the chairman now owns 252,255 shares of the company’s stock, valued at $28,083,549.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado raised its position in shares of Ingredion by 3.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 13,430 shares of the company’s stock valued at $1,878,000 after buying an additional 455 shares during the last quarter. Uncommon Cents Investing LLC acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $3,065,000. Pzena Investment Management LLC raised its position in shares of Ingredion by 15.2% in the fourth quarter. Pzena Investment Management LLC now owns 3,495 shares of the company’s stock valued at $489,000 after buying an additional 462 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Ingredion by 934.0% in the fourth quarter. Teacher Retirement System of Texas now owns 25,571 shares of the company’s stock valued at $3,575,000 after buying an additional 23,098 shares during the last quarter. Finally, Barings LLC acquired a new position in shares of Ingredion in the fourth quarter valued at approximately $2,739,000. 87.08% of the stock is owned by institutional investors and hedge funds.
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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