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. “
A number of other equities research analysts have also recently weighed in on INGR. Vertical Group cut shares of Ingredion from a buy rating to a hold rating in a report on Thursday, January 24th. ValuEngine cut shares of Ingredion from a hold rating to a sell rating in a report on Monday, February 4th. Seaport Global Securities assumed coverage on shares of Ingredion in a report on Thursday, February 21st. They issued a buy rating on the stock. Finally, TheStreet cut shares of Ingredion from a b- rating to a c+ rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $118.50.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.12). Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. Ingredion’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts predict that Ingredion will post 6.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, June 28th. Ingredion’s payout ratio is 36.13%.
Several large investors have recently bought and sold shares of INGR. Golden State Wealth Management LLC purchased a new stake in shares of Ingredion during the first quarter valued at approximately $27,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Ingredion during the first quarter valued at approximately $28,000. Capital Investment Advisory Services LLC purchased a new stake in shares of Ingredion during the fourth quarter valued at approximately $30,000. Fort L.P. grew its holdings in shares of Ingredion by 1,130.0% during the first quarter. Fort L.P. now owns 369 shares of the company’s stock valued at $35,000 after buying an additional 339 shares during the last quarter. Finally, Harvest Group Wealth Management LLC purchased a new stake in shares of Ingredion during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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