Ingredion Inc. (INGR) Stock Rating Lowered by Zacks Investment Research
Ingredion Inc. (NYSE:INGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Other equities analysts have also issued research reports about the stock. Citigroup Inc. raised their price objective on shares of Ingredion from $140.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Jefferies Group restated a “buy” rating and set a $147.00 price objective (up previously from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Finally, Societe Generale started coverage on shares of Ingredion in a report on Wednesday, September 7th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $124.33.
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Shares of Ingredion (NYSE:INGR) traded up 1.41% during trading on Tuesday, reaching $134.80. 258,479 shares of the company traded hands. Ingredion has a 12 month low of $84.57 and a 12 month high of $140.00. The firm has a 50-day moving average price of $133.40 and a 200-day moving average price of $125.82. The firm has a market capitalization of $9.73 billion, a PE ratio of 21.56 and a beta of 1.00.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the business posted $1.53 EPS. Equities research analysts anticipate that Ingredion will post $6.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, October 3rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio (DPR) is presently 32.21%.
In other news, SVP Robert J. Stefansic sold 18,810 shares of Ingredion stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $135.97, for a total value of $2,557,595.70. Following the transaction, the senior vice president now owns 16,890 shares of the company’s stock, valued at $2,296,533.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ilene S. Gordon sold 70,492 shares of Ingredion stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $135.19, for a total transaction of $9,529,813.48. Following the completion of the transaction, the chief executive officer now directly owns 188,430 shares in the company, valued at approximately $25,473,851.70. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in INGR. Invictus RG raised its position in Ingredion by 6.9% in the second quarter. Invictus RG now owns 865 shares of the company’s stock worth $112,000 after buying an additional 56 shares in the last quarter. Mizuho Asset Management Co. Ltd. purchased a new position in Ingredion during the second quarter worth approximately $121,000. ClariVest Asset Management LLC purchased a new position in Ingredion during the second quarter worth approximately $135,000. Financial Architects Inc raised its position in Ingredion by 297.7% in the second quarter. Financial Architects Inc now owns 1,193 shares of the company’s stock worth $154,000 after buying an additional 893 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its position in Ingredion by 47.8% in the second quarter. Brookfield Asset Management Inc. now owns 1,330 shares of the company’s stock worth $172,000 after buying an additional 430 shares in the last quarter. 86.60% of the stock is currently owned by institutional investors.
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).
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