Ingredion Incorporated (INGR) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Ingredion Incorporated (NYSE:INGR) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $141.67.
A number of brokerages have recently issued reports on INGR. Zacks Investment Research lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets reissued a “hold” rating and set a $125.00 target price on shares of Ingredion in a research note on Friday, September 29th. Finally, BidaskClub lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd.
Shares of Ingredion (NYSE INGR) traded up 0.46% on Wednesday, reaching $123.61. 174,062 shares of the company’s stock traded hands. Ingredion has a 12-month low of $113.07 and a 12-month high of $137.62. The firm has a market cap of $8.87 billion, a P/E ratio of 18.59 and a beta of 0.59. The stock has a 50-day moving average of $122.93 and a 200 day moving average of $120.42.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.86 by $0.03. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. Ingredion’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, equities research analysts expect that Ingredion will post $7.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.60 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, September 29th. Ingredion’s payout ratio is currently 36.09%.
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In other news, VP James P. Zallie sold 27,972 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares of the company’s stock, valued at $3,690,102.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James P. Zallie sold 3,048 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $125.00, for a total transaction of $381,000.00. The disclosure for this sale can be found here. Insiders have sold 52,882 shares of company stock valued at $6,622,034 over the last three months. Insiders own 1.92% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of INGR. BlackRock Inc. boosted its stake in shares of Ingredion by 1,655.4% during the first quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock valued at $997,686,000 after purchasing an additional 7,812,440 shares during the period. Victory Capital Management Inc. lifted its stake in Ingredion by 6,380.0% in the second quarter. Victory Capital Management Inc. now owns 745,917 shares of the company’s stock worth $88,921,000 after acquiring an additional 734,406 shares during the period. Schroder Investment Management Group lifted its stake in Ingredion by 244.5% in the second quarter. Schroder Investment Management Group now owns 675,062 shares of the company’s stock worth $79,319,000 after acquiring an additional 479,087 shares during the period. Wellington Management Group LLP lifted its stake in Ingredion by 39.7% in the first quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock worth $183,602,000 after acquiring an additional 433,572 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Ingredion by 2,022.8% in the second quarter. Janus Henderson Group PLC now owns 299,848 shares of the company’s stock worth $35,744,000 after acquiring an additional 285,723 shares during the period. 83.93% of the stock is owned by hedge funds and other institutional investors.
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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