BidaskClub upgraded shares of Ingredion Incorporated (NYSE:INGR) from a sell rating to a hold rating in a research report report published on Friday.

INGR has been the topic of several other reports. BMO Capital Markets restated a hold rating and issued a $125.00 price target on shares of Ingredion in a research report on Friday, September 29th. Jefferies Group LLC restated a buy rating and issued a $145.00 price target on shares of Ingredion in a research report on Wednesday, June 14th. Finally, Zacks Investment Research lowered Ingredion from a buy rating to a hold rating and set a $135.00 price target on the stock. in a research report on Wednesday, September 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $140.00.

Shares of Ingredion (NYSE:INGR) opened at 122.03 on Friday. The stock’s 50 day moving average price is $122.93 and its 200 day moving average price is $120.47. The stock has a market capitalization of $8.75 billion, a P/E ratio of 18.35 and a beta of 0.59. Ingredion has a one year low of $113.07 and a one year high of $137.62.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.53 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, analysts forecast that Ingredion will post $7.60 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 1.97%. Ingredion’s payout ratio is currently 36.09%.

In other Ingredion news, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the transaction, the vice president now directly owns 29,306 shares in the company, valued at $3,664,422.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the transaction, the vice president now owns 29,429 shares in the company, valued at $3,690,102.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,882 shares of company stock worth $6,622,034. Corporate insiders own 1.92% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. WFG Advisors LP lifted its holdings in Ingredion by 0.4% during the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after acquiring an additional 6 shares in the last quarter. HL Financial Services LLC lifted its holdings in Ingredion by 0.4% during the second quarter. HL Financial Services LLC now owns 2,730 shares of the company’s stock worth $325,000 after acquiring an additional 12 shares in the last quarter. IndexIQ Advisors LLC lifted its holdings in Ingredion by 1.8% during the second quarter. IndexIQ Advisors LLC now owns 1,655 shares of the company’s stock worth $197,000 after acquiring an additional 29 shares in the last quarter. Somerset Trust Co lifted its holdings in Ingredion by 0.5% during the second quarter. Somerset Trust Co now owns 6,317 shares of the company’s stock worth $753,000 after acquiring an additional 30 shares in the last quarter. Finally, Linscomb & Williams Inc. lifted its holdings in Ingredion by 1.4% during the second quarter. Linscomb & Williams Inc. now owns 2,209 shares of the company’s stock worth $263,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Ingredion Company Profile

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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