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. “
Several other equities analysts have also commented on the stock. Citigroup Inc. increased their price objective 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. Jefferies Group reaffirmed a buy rating and issued a $147.00 price objective (up from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Finally, Societe Generale began coverage on shares of Ingredion in a research report on Wednesday, September 7th. They issued a hold rating for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Ingredion currently has an average rating of Hold and an average price target of $124.33.
Ingredion (NYSE:INGR) opened at 129.21 on Wednesday. The stock has a market cap of $9.33 billion, a P/E ratio of 20.67 and a beta of 1.11. Ingredion has a 12-month low of $84.57 and a 12-month high of $140.00. The stock has a 50 day moving average of $134.71 and a 200 day moving average of $122.88.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. During the same period in the previous year, the company posted $1.53 earnings per share. On average, equities research analysts anticipate that Ingredion will post $6.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, October 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio is 28.99%.
In related news, CEO Ilene S. Gordon sold 70,492 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 188,430 shares in the company, valued at approximately $25,473,851.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP James P. Zallie sold 16,900 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $132.00, for a total transaction of $2,230,800.00. Following the completion of the transaction, the vice president now owns 48,008 shares in the company, valued at approximately $6,337,056. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of INGR. Mason Street Advisors LLC acquired a new position in shares of Ingredion during the second quarter valued at $4,248,000. Sanctuary Wealth Advisors LLC increased its position in shares of Ingredion by 2.7% in the second quarter. Sanctuary Wealth Advisors LLC now owns 30,270 shares of the company’s stock valued at $3,917,000 after buying an additional 800 shares during the period. Cohen & Steers Inc. increased its position in shares of Ingredion by 43.5% in the second quarter. Cohen & Steers Inc. now owns 21,100 shares of the company’s stock valued at $2,731,000 after buying an additional 6,400 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Ingredion by 26.7% in the second quarter. Public Employees Retirement System of Ohio now owns 34,870 shares of the company’s stock valued at $4,513,000 after buying an additional 7,357 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Ingredion during the second quarter valued at $2,493,000. Institutional investors own 86.61% of the company’s stock.
Ingredion Company Profile
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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