Ingredion (NYSE:INGR) Reaches New 12-Month High at $102.91

Ingredion Incorporated (NYSE:INGR – Get Rating) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $102.91 and last traded at $102.81, with a volume of 2747 shares trading hands. The stock had previously closed at $100.15.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INGR shares. UBS Group began coverage on shares of Ingredion in a research report on Friday, September 30th. They set a “neutral” rating and a $89.00 price target on the stock. StockNews.com raised shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Thursday, November 17th. Stephens raised shares of Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $100.00 to $120.00 in a research note on Tuesday. Finally, Credit Suisse Group upped their target price on shares of Ingredion from $94.00 to $100.00 and gave the stock a “neutral” rating in a research note on Monday, November 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and an average price target of $103.00.

Ingredion Trading Down 2.0 %

The company has a market cap of $6.71 billion, a P/E ratio of 15.45 and a beta of 0.76. The stock’s 50-day moving average is $98.04 and its two-hundred day moving average is $90.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.68 and a quick ratio of 0.91.

Ingredion (NYSE:INGR – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $1.73 earnings per share for the quarter. The company had revenue of $2.02 billion for the quarter. Ingredion had a net margin of 5.77% and a return on equity of 14.62%. As a group, equities research analysts predict that Ingredion Incorporated will post 7.06 earnings per share for the current fiscal year.

Ingredion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Monday, January 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $2.84 dividend on an annualized basis and a yield of 2.78%. Ingredion’s dividend payout ratio is currently 42.90%.

Institutional Trading of Ingredion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Ingredion by 0.7% during the third quarter. Vanguard Group Inc. now owns 7,030,024 shares of the company’s stock valued at $566,057,000 after purchasing an additional 46,092 shares during the last quarter. BlackRock Inc. lifted its position in Ingredion by 1.9% during the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock valued at $504,608,000 after purchasing an additional 107,110 shares during the last quarter. LSV Asset Management lifted its position in Ingredion by 0.6% during the third quarter. LSV Asset Management now owns 2,598,482 shares of the company’s stock valued at $209,230,000 after purchasing an additional 15,174 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ingredion by 4.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,397,801 shares of the company’s stock valued at $193,078,000 after purchasing an additional 92,830 shares during the last quarter. Finally, State Street Corp lifted its position in Ingredion by 7.1% during the first quarter. State Street Corp now owns 2,364,523 shares of the company’s stock valued at $207,518,000 after purchasing an additional 155,995 shares during the last quarter. 85.70% of the stock is owned by hedge funds and other institutional investors.

Ingredion Company Profile

(Get Rating)

Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.