Ingredion Inc. (INGR) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
A number of other analysts also recently weighed in on the stock. Societe Generale began coverage on shares of Ingredion in a research report on Wednesday, September 7th. They set a hold rating for the company. Jefferies Group reissued a buy rating and set a $147.00 target price (up previously from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Finally, Citigroup Inc. increased their target price on shares of Ingredion from $140.00 to $154.00 and gave the company a buy rating in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $124.33.
Shares of Ingredion (NYSE:INGR) opened at 134.80 on Tuesday. The stock has a 50 day moving average of $133.40 and a 200-day moving average of $125.82. The firm has a market capitalization of $9.73 billion, a P/E ratio of 21.56 and a beta of 1.00. Ingredion has a 12-month low of $84.57 and a 12-month high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. The firm earned $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company earned $1.53 EPS. On average, equities research analysts predict that Ingredion will post $6.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. Ingredion’s dividend payout ratio (DPR) is currently 32.21%.
In other news, SVP Robert J. Stefansic sold 18,810 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $135.97, for a total transaction of $2,557,595.70. Following the completion of the sale, the senior vice president now directly owns 16,890 shares of the company’s stock, valued at approximately $2,296,533.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ilene S. Gordon sold 70,492 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $135.19, for a total value of $9,529,813.48. Following the sale, the chief executive officer now directly owns 188,430 shares of the company’s stock, valued at $25,473,851.70. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Teachers Advisors Inc. raised its stake in shares of Ingredion by 13.1% in the first quarter. Teachers Advisors Inc. now owns 154,952 shares of the company’s stock valued at $16,547,000 after buying an additional 18,001 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Ingredion by 66.7% in the first quarter. BlackRock Group LTD now owns 127,200 shares of the company’s stock valued at $13,583,000 after buying an additional 50,908 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ingredion during the first quarter valued at about $2,016,000. State Street Corp raised its stake in shares of Ingredion by 5.3% in the first quarter. State Street Corp now owns 2,061,115 shares of the company’s stock valued at $220,111,000 after buying an additional 103,453 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Ingredion by 10,253.3% in the first quarter. Meeder Asset Management Inc. now owns 6,212 shares of the company’s stock valued at $663,000 after buying an additional 6,152 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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