Ingredion Incorporated (INGR) Upgraded by Stephens to “Overweight”
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Ingredion from a strong sell rating to a sell rating in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of Ingredion from a buy rating to a hold rating in a report on Thursday, November 9th. Jefferies Group LLC set a $145.00 price objective on shares of Ingredion and gave the company a buy rating in a report on Sunday, October 29th. Finally, Credit Suisse Group reissued an outperform rating and set a $145.00 price objective (up from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $140.00.
Shares of Ingredion (NYSE INGR) traded down $0.25 during midday trading on Wednesday, hitting $132.96. 743,518 shares of the stock traded hands, compared to its average volume of 431,081. The company has a market capitalization of $9,540.00, a P/E ratio of 17.08, a PEG ratio of 1.54 and a beta of 0.68. Ingredion has a 52-week low of $113.07 and a 52-week high of $134.03. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.61.
Ingredion (NYSE:INGR) last issued its earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.17. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 earnings per share. equities research analysts forecast that Ingredion will post 7.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.60 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Friday, September 29th. Ingredion’s dividend payout ratio is currently 34.33%.
In other Ingredion news, VP James P. Zallie sold 27,972 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 29,429 shares in the company, valued at $3,690,102.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James P. Zallie sold 3,048 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,882 shares of company stock valued at $6,622,034. 1.92% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. National Pension Service boosted its position in shares of Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after purchasing an additional 466 shares during the period. Toronto Dominion Bank boosted its position in shares of Ingredion by 10.6% in the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after purchasing an additional 91 shares during the period. WFG Advisors LP boosted its position in shares of Ingredion by 0.4% in the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after purchasing an additional 6 shares during the period. First Mercantile Trust Co. boosted its position in shares of Ingredion by 19.3% in the second quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock worth $171,000 after purchasing an additional 232 shares during the period. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Ingredion in the third quarter worth approximately $173,000. Institutional investors and hedge funds own 84.59% 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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