Ingredion Inc. (INGR) Raises Dividend to $0.50 Per Share
Ingredion Inc. (NYSE:INGR) declared a quarterly dividend on Wednesday, September 21st. Investors of record on Monday, October 3rd will be paid a dividend of 0.50 per share on Tuesday, October 25th. This represents a $2.00 annualized dividend and a yield of 1.54%. This is an increase from Ingredion’s previous quarterly dividend of $0.45.
Several research firms have commented on INGR. Zacks Investment Research cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Citigroup Inc. lifted their target price on shares of Ingredion from $140.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Societe Generale began coverage on shares of Ingredion in a research report on Wednesday, September 7th. They set a “hold” rating on the stock. Finally, Jefferies Group reissued a “buy” rating and set a $147.00 target price (up previously from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $125.50.
Shares of Ingredion (NYSE:INGR) traded up 0.74% during midday trading on Wednesday, hitting $130.09. 500,968 shares of the stock traded hands. The company’s 50-day moving average is $135.09 and its 200 day moving average is $122.25. Ingredion has a 52 week low of $84.57 and a 52 week high of $140.00. The firm has a market capitalization of $9.39 billion, a PE ratio of 20.81 and a beta of 1.11.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/ingredion-inc-ingr-raises-dividend-to-0-50-per-share.html
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. The business earned $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a return on equity of 21.01% and a net margin of 7.94%. During the same quarter last year, the company posted $1.53 EPS. Analysts anticipate that Ingredion will post $6.81 earnings per share for the current year.
In other Ingredion news, VP James P. Zallie sold 16,900 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $132.00, for a total value of $2,230,800.00. Following the sale, the vice president now owns 48,008 shares in the company, valued at $6,337,056. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jack C. Fortnum sold 34,800 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $134.54, for a total transaction of $4,681,992.00. Following the completion of the sale, the vice president now owns 145,369 shares in the company, valued at approximately $19,557,945.26. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of Ingredion by 58.8% in the second quarter. Canada Pension Plan Investment Board now owns 101,295 shares of the company’s stock worth $13,109,000 after buying an additional 37,510 shares during the period. Employees Retirement System of Texas increased its position in shares of Ingredion by 71.4% in the second quarter. Employees Retirement System of Texas now owns 24,000 shares of the company’s stock valued at $3,106,000 after buying an additional 10,000 shares in the last quarter. Advisor Partners LLC increased its position in shares of Ingredion by 1.5% in the second quarter. Advisor Partners LLC now owns 1,914 shares of the company’s stock valued at $248,000 after buying an additional 28 shares in the last quarter. Tredje AP fonden purchased a new position in shares of Ingredion during the second quarter valued at about $193,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Ingredion during the second quarter valued at about $505,000. Institutional investors and hedge funds 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).
Receive News & Ratings for Ingredion Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion Inc. and related companies with MarketBeat.com's FREE daily email newsletter.