Ingredion Inc (NYSE:INGR) has been assigned an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $142.00.
Several research analysts have recently weighed in on INGR shares. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 15th. Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Credit Suisse Group restated an “outperform” rating and set a $145.00 target price (up from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Jefferies Group set a $145.00 target price on Ingredion and gave the stock a “buy” rating in a report on Sunday, October 29th.
Shares of Ingredion (NYSE INGR) opened at $130.30 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 2.52 and a debt-to-equity ratio of 0.60. Ingredion has a twelve month low of $113.42 and a twelve month high of $146.28. The stock has a market capitalization of $9,330.00, a PE ratio of 18.43, a P/E/G ratio of 1.48 and a beta of 0.71.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, December 29th. Ingredion’s dividend payout ratio is currently 33.95%.
In other news, SVP Jorgen Kokke sold 20,674 shares of Ingredion stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the sale, the senior vice president now owns 23,119 shares of the company’s stock, valued at approximately $3,074,827. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Martin Sonntag sold 14,939 shares of Ingredion stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.00, for a total transaction of $2,016,765.00. Following the sale, the senior vice president now directly owns 9,875 shares in the company, valued at approximately $1,333,125. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,215 shares of company stock worth $7,007,843. Insiders own 1.92% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in shares of Ingredion by 10.6% during the 2nd quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after buying an additional 91 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in shares of Ingredion during the 4th quarter valued at approximately $114,000. Meeder Asset Management Inc. raised its position in shares of Ingredion by 146.4% during the 4th quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock valued at $155,000 after buying an additional 659 shares during the period. WFG Advisors LP raised its position in shares of Ingredion by 0.4% during the 2nd quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after buying an additional 6 shares during the period. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Ingredion during the 3rd quarter valued at approximately $173,000. 85.99% of the stock is currently 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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