Ingredion Inc (NYSE:INGR) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $144.75.
INGR has been the subject of several research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Ingredion in a report on Friday, February 3rd. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Friday, January 20th. Stephens cut Ingredion from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 3rd. Finally, BMO Capital Markets restated a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Wednesday.
Ingredion (NYSE:INGR) traded down 1.04% during midday trading on Monday, reaching $119.32. The company had a trading volume of 340,195 shares. The firm has a 50-day moving average of $120.58 and a 200 day moving average of $124.33. Ingredion has a 1-year low of $104.24 and a 1-year high of $140.00. The company has a market capitalization of $8.57 billion, a P/E ratio of 18.22 and a beta of 0.73.
Ingredion (NYSE:INGR) last issued its earnings results on Thursday, February 2nd. The company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.04. Ingredion had a return on equity of 21.08% and a net margin of 8.33%. The business earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the business earned $1.42 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts forecast that Ingredion will post $7.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Friday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, March 29th. Ingredion’s dividend payout ratio (DPR) is currently 30.77%.
Large investors have recently modified their holdings of the company. Global X Management Co. LLC raised its position in shares of Ingredion by 58.0% in the third quarter. Global X Management Co. LLC now owns 771 shares of the company’s stock valued at $103,000 after buying an additional 283 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Ingredion during the fourth quarter valued at about $125,000. Focused Wealth Management Inc acquired a new position in shares of Ingredion during the fourth quarter valued at about $125,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Ingredion during the fourth quarter valued at about $169,000. Finally, Stanley Laman Group Ltd. acquired a new position in shares of Ingredion during the third quarter valued at about $194,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.
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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