Ingredion Incorporated (NYSE:INGR) Given Average Recommendation of “Hold” by Analysts

Ingredion Incorporated (NYSE:INGR) has been assigned a consensus rating of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $119.20.

A number of equities analysts have recently issued reports on INGR shares. Stephens restated an “overweight” rating and issued a $130.00 price target on shares of Ingredion in a research note on Wednesday, August 9th. StockNews.com assumed coverage on Ingredion in a research note on Thursday, August 17th. They set a “buy” rating for the company. Barclays lowered their price objective on shares of Ingredion from $120.00 to $118.00 in a research note on Thursday, June 1st. Finally, BMO Capital Markets cut their target price on shares of Ingredion from $125.00 to $117.00 and set a “market perform” rating for the company in a research report on Wednesday, August 9th.

Ingredion Trading Down 0.3 %

Ingredion stock opened at $102.65 on Tuesday. Ingredion has a one year low of $78.81 and a one year high of $113.46. The business’s fifty day moving average is $105.51 and its 200 day moving average is $104.48. The stock has a market capitalization of $6.79 billion, a PE ratio of 11.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 0.98.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). Ingredion had a net margin of 6.99% and a return on equity of 17.63%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the business earned $2.12 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Ingredion will post 9.23 EPS for the current year.

Ingredion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.78 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, September 29th. This represents a $3.12 dividend on an annualized basis and a yield of 3.04%. Ingredion’s dividend payout ratio (DPR) is presently 33.14%.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 1,921 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $110.01, for a total value of $211,329.21. Following the completion of the transaction, the senior vice president now owns 20,246 shares of the company’s stock, valued at approximately $2,227,262.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INGR. Envestnet Asset Management Inc. boosted its holdings in shares of Ingredion by 254.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 652,183 shares of the company’s stock valued at $20,402,000 after purchasing an additional 468,332 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Ingredion by 0.7% during the first quarter. Treasurer of the State of North Carolina now owns 28,656 shares of the company’s stock valued at $2,915,000 after buying an additional 210 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Ingredion by 2.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 12,474 shares of the company’s stock valued at $1,230,000 after buying an additional 331 shares in the last quarter. Independent Advisor Alliance bought a new stake in Ingredion in the 1st quarter worth approximately $1,158,000. Finally, AMG National Trust Bank raised its holdings in shares of Ingredion by 8.6% during the 1st quarter. AMG National Trust Bank now owns 11,484 shares of the company’s stock worth $1,168,000 after acquiring an additional 909 shares in the last quarter. 84.80% of the stock is currently owned by institutional investors.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, produces and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.