Ingredion Inc. (INGR) Downgraded by Zacks Investment Research to “Hold”
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. “
Several other brokerages also recently issued reports on INGR. Societe Generale began coverage on shares of Ingredion in a research report on Wednesday, September 7th. They set a hold rating for the company. Citigroup Inc. raised their price objective 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. Finally, Jefferies Group restated a buy rating and set a $147.00 price objective (up from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $125.50.
Ingredion (NYSE:INGR) opened at 130.09 on Wednesday. The firm’s 50-day moving average price is $135.09 and its 200-day moving average price is $122.25. Ingredion has a 12-month low of $84.57 and a 12-month high of $140.00. The company has a market cap of $9.39 billion, a P/E ratio of 20.81 and a beta of 1.11.
Ingredion (NYSE:INGR) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates 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 business earned $1.53 earnings per share. Analysts expect that Ingredion will post $6.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from Ingredion’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.54%. Ingredion’s dividend payout ratio (DPR) is currently 28.99%.
In related 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 directly owns 16,890 shares of the company’s stock, valued at $2,296,533.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James P. Zallie sold 16,900 shares of Ingredion stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $132.00, for a total transaction of $2,230,800.00. Following the completion of the transaction, the vice president now directly owns 48,008 shares in the company, valued at $6,337,056. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in INGR. Mason Street Advisors LLC purchased a new position in shares of Ingredion during the second quarter worth about $4,248,000. Sanctuary Wealth Advisors LLC boosted its stake in Ingredion by 2.7% in the second quarter. Sanctuary Wealth Advisors LLC now owns 30,270 shares of the company’s stock worth $3,917,000 after buying an additional 800 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Ingredion by 43.5% in the second quarter. Cohen & Steers Inc. now owns 21,100 shares of the company’s stock worth $2,731,000 after buying an additional 6,400 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Ingredion by 26.7% in the second quarter. Public Employees Retirement System of Ohio now owns 34,870 shares of the company’s stock worth $4,513,000 after buying an additional 7,357 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in Ingredion during the second quarter worth $2,493,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.
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).
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