BidaskClub upgraded shares of Ingredion Incorporated (NYSE:INGR) from a sell rating to a hold rating in a report issued on Friday morning.
Several other research firms have also recently commented on INGR. Jefferies Group LLC set a $145.00 price target on Ingredion and gave the company a buy rating in a report on Sunday, October 29th. Credit Suisse Group reaffirmed an outperform rating and issued a $145.00 price target (up previously from $140.00) on shares of Ingredion in a report on Thursday. Zacks Investment Research raised Ingredion from a hold rating to a buy rating and set a $139.00 price target for the company in a report on Thursday, September 14th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $125.00 price target on shares of Ingredion in a report on Friday, September 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Ingredion has a consensus rating of Hold and an average price target of $137.50.
Ingredion (NYSE INGR) traded up $0.71 during trading hours on Friday, hitting $129.99. The company had a trading volume of 360,744 shares, compared to its average volume of 272,201. Ingredion has a 12-month low of $113.07 and a 12-month high of $133.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.59 and a current ratio of 2.41. The firm has a market capitalization of $9,324.05, a PE ratio of 16.99, a PEG ratio of 1.54 and a beta of 0.68.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.04 by $0.17. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. sell-side analysts forecast that Ingredion will post 7.67 EPS 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 paid a dividend of $0.60 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, September 29th. This represents a $2.40 annualized dividend and a yield of 1.85%. Ingredion’s dividend payout ratio (DPR) is 34.38%.
In other Ingredion news, VP James P. Zallie sold 27,972 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the completion of the sale, the vice president now owns 29,429 shares of the company’s stock, valued at $3,690,102.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James P. Zallie sold 21,862 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the sale, the vice president now directly owns 29,306 shares of the company’s stock, valued at approximately $3,664,422.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,882 shares of company stock valued at $6,622,034. 1.92% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. WFG Advisors LP increased its stake 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 during the last quarter. HL Financial Services LLC boosted its position in shares of 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 buying an additional 12 shares during the period. IndexIQ Advisors LLC boosted its position in shares of 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 buying an additional 29 shares during the period. Somerset Trust Co boosted its position in shares of 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 buying an additional 30 shares during the period. Finally, Linscomb & Williams Inc. boosted its position in shares of 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 buying an additional 30 shares during the period. 83.31% of the stock is owned by institutional investors.
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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