Ingredion Incorporated (INGR) Receives Hold Rating from BMO Capital Markets
INGR has been the topic of several other research reports. BidaskClub downgraded Ingredion from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Ingredion from a hold rating to a buy rating and set a $139.00 price objective on the stock in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $140.00.
Ingredion (INGR) traded up 0.37% on Friday, reaching $120.64. The company had a trading volume of 340,511 shares. The firm has a 50 day moving average price of $123.42 and a 200-day moving average price of $120.33. Ingredion has a 12 month low of $113.07 and a 12 month high of $137.62. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 18.14 and a beta of 0.60.
Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. Analysts forecast that Ingredion will post $7.60 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd will be paid a $0.60 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, September 29th. This represents a $2.40 annualized dividend and a dividend yield of 1.99%. Ingredion’s dividend payout ratio (DPR) is currently 30.08%.
In other Ingredion news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $125.00, for a total value of $381,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $125.39, for a total value of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares in the company, valued at approximately $3,690,102.31. The disclosure for this sale can be found here. Insiders sold a total of 52,882 shares of company stock worth $6,622,034 in the last three months. Company insiders own 1.92% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in INGR. Pacer Advisors Inc. raised its stake in shares of Ingredion by 3.3% in the 1st quarter. Pacer Advisors Inc. now owns 1,390 shares of the company’s stock valued at $167,000 after purchasing an additional 44 shares during the period. Aberdeen Asset Management PLC UK acquired a new stake in shares of Ingredion in the 1st quarter valued at about $219,000. American International Group Inc. raised its stake in shares of Ingredion by 2.8% in the 1st quarter. American International Group Inc. now owns 145,165 shares of the company’s stock valued at $17,482,000 after purchasing an additional 3,924 shares during the period. WFG Advisors LP raised its stake in shares of Ingredion by 0.4% in the 1st quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock valued at $165,000 after purchasing an additional 5 shares during the period. Finally, Tredje AP fonden raised its stake in shares of Ingredion by 24.1% in the 1st quarter. Tredje AP fonden now owns 11,090 shares of the company’s stock valued at $1,341,000 after purchasing an additional 2,157 shares during the period. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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