Ingredion Incorporated (INGR) Upgraded to “Hold” by BidaskClub
BidaskClub upgraded shares of Ingredion Incorporated (NYSE:INGR) from a sell rating to a hold rating in a research report report published on Friday.
INGR has been the subject of several other reports. BMO Capital Markets reiterated a hold rating and set a $125.00 price target on shares of Ingredion in a research report on Friday, September 29th. Jefferies Group LLC reiterated a buy rating and set a $145.00 price target on shares of Ingredion in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut Ingredion from a buy rating to a hold rating and set a $135.00 price target for the company. in a research report on Wednesday, September 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Ingredion presently has an average rating of Hold and a consensus target price of $140.00.
Ingredion (NYSE INGR) traded down 0.77% on Friday, hitting $123.15. 193,907 shares of the company were exchanged. The stock’s 50-day moving average price is $122.92 and its 200-day moving average price is $120.46. The stock has a market capitalization of $8.83 billion, a P/E ratio of 18.52 and a beta of 0.59. Ingredion has a 52-week low of $113.07 and a 52-week high of $137.62.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Ingredion will post $7.60 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd will be issued a $0.60 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, September 29th. Ingredion’s dividend payout ratio is presently 36.09%.
In other Ingredion news, VP James P. Zallie sold 21,862 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the completion of the sale, the vice president now directly owns 29,306 shares in the company, valued at approximately $3,664,422.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP James P. Zallie sold 3,048 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,882 shares of company stock valued at $6,622,034. 1.92% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. BKD Wealth Advisors LLC grew its holdings in Ingredion by 6.1% in the 2nd quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock valued at $293,000 after buying an additional 141 shares in the last quarter. Tobam purchased a new stake in Ingredion in the 2nd quarter valued at $938,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Ingredion by 2.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,175 shares of the company’s stock valued at $25,174,000 after buying an additional 5,707 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Ingredion by 6.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 149,884 shares of the company’s stock valued at $17,868,000 after buying an additional 8,720 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Ingredion by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 6,407,053 shares of the company’s stock worth $771,601,000 after purchasing an additional 20,051 shares during the period. Institutional investors own 83.93% 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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