Ingredion (NYSE:INGR) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Ingredion Incorporated (NYSE:INGR)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $98.37 and traded as high as $98.96. Ingredion shares last traded at $98.8930, with a volume of 680,525 shares.

Analyst Ratings Changes

Several equities research analysts have recently commented on INGR shares. UBS Group cut their price objective on Ingredion from $108.00 to $104.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Weiss Ratings upgraded shares of Ingredion from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Zacks Research raised shares of Ingredion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Barclays dropped their price target on shares of Ingredion from $118.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $120.29.

Ingredion Trading Up 2.0%

The company has a debt-to-equity ratio of 0.39, a current ratio of 2.80 and a quick ratio of 1.92. The business has a 50-day simple moving average of $98.37 and a two-hundred day simple moving average of $105.67. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 0.81 and a beta of 0.65.

Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 4th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. Ingredion had a return on equity of 15.40% and a net margin of 8.21%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.87 EPS. Equities analysts forecast that Ingredion Incorporated will post 10.62 EPS for the current fiscal year.

Ingredion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Thursday, October 1st were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $3.32 annualized dividend and a yield of 3.4%. This is a positive change from Ingredion’s previous quarterly dividend of $0.82. Ingredion’s payout ratio is 36.21%.

Insider Transactions at Ingredion

In other Ingredion news, Director David Fischer sold 1,662 shares of Ingredion stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $102.31, for a total transaction of $170,039.22. Following the completion of the transaction, the director directly owned 19,930 shares of the company’s stock, valued at $2,039,038.30. The trade was a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ingredion

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Ingredion in the 2nd quarter valued at about $618,834,000. Dimensional Fund Advisors LP raised its holdings in Ingredion by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,115,136 shares of the company’s stock valued at $350,952,000 after acquiring an additional 175,600 shares during the period. First Trust Advisors LP lifted its position in Ingredion by 53.1% during the first quarter. First Trust Advisors LP now owns 3,054,149 shares of the company’s stock worth $344,080,000 after acquiring an additional 1,059,324 shares during the last quarter. Quantinno Capital Management LP lifted its position in Ingredion by 46.9% during the first quarter. Quantinno Capital Management LP now owns 930,771 shares of the company’s stock worth $104,861,000 after acquiring an additional 297,007 shares during the last quarter. Finally, Equity Investment Corp acquired a new stake in Ingredion during the second quarter worth approximately $82,499,000. 85.27% of the stock is owned by institutional investors.

Ingredion Company Profile

Ingredion Incorporated (NYSE: INGR) is a global ingredient solutions provider that develops and produces starches, sweeteners, texturizers, fibers, plant-based proteins and other specialty ingredients. The company processes plant-based raw materials, including corn, tapioca, potato, rice and other grains, into ingredients used by manufacturers across a range of industries.

Ingredion’s products support food and beverage applications such as bakery products, dairy and alternative dairy, confectionery, beverages and prepared foods.