Ingredion Inc (NYSE:INGR) has received an average rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $125.00.
Several brokerages have weighed in on INGR. Stephens cut Ingredion from an “overweight” rating to an “equal weight” rating in a report on Friday, June 22nd. ValuEngine cut Ingredion from a “sell” rating to a “strong sell” rating in a report on Saturday, July 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a report on Friday, July 13th. Citigroup cut Ingredion from a “neutral” rating to a “sell” rating in a report on Friday, July 13th. Finally, Credit Suisse Group cut Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 price objective for the company. in a report on Wednesday, July 18th.
A number of hedge funds and other institutional investors have recently made changes to their positions in INGR. Point72 Hong Kong Ltd acquired a new position in shares of Ingredion during the 2nd quarter worth $153,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Ingredion by 42.2% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after buying an additional 500 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in shares of Ingredion during the 2nd quarter worth $219,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Ingredion during the 2nd quarter worth $244,000. Finally, Global X Management Co LLC raised its holdings in shares of Ingredion by 92.0% during the 2nd quarter. Global X Management Co LLC now owns 2,411 shares of the company’s stock worth $267,000 after buying an additional 1,155 shares in the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.
INGR traded up $0.05 during trading on Monday, hitting $102.57. The stock had a trading volume of 2,380 shares, compared to its average volume of 516,941. The company has a market capitalization of $7.58 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.61. Ingredion has a one year low of $95.01 and a one year high of $146.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.46 and a quick ratio of 1.48.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.01. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. Equities analysts anticipate that Ingredion will post 7.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, October 1st will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, September 28th. This is a boost from Ingredion’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a yield of 2.44%. Ingredion’s payout ratio is currently 32.47%.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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