Ingredion Incorporated (NYSE:INGR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Ingredion Incorporated (NYSE:INGR) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $138.83.

Several equities analysts have recently issued reports on INGR shares. Oppenheimer lifted their price objective on Ingredion from $138.00 to $147.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their price objective on shares of Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. BMO Capital Markets increased their target price on Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Finally, Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $122.00 to $145.00 in a report on Friday, August 9th.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now owns 52,530 shares in the company, valued at approximately $7,040,595.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO James P. Zallie sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $134.03, for a total value of $174,239.00. Following the completion of the sale, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $134.02, for a total value of $134,020.00. Following the transaction, the chief executive officer now directly owns 52,530 shares in the company, valued at $7,040,070.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,356 shares of company stock worth $3,400,709 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingredion

Several hedge funds have recently bought and sold shares of INGR. Atria Investments Inc boosted its position in shares of Ingredion by 4.8% in the 3rd quarter. Atria Investments Inc now owns 7,028 shares of the company’s stock worth $966,000 after buying an additional 323 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Ingredion by 48.4% in the third quarter. Assetmark Inc. now owns 1,325 shares of the company’s stock valued at $182,000 after purchasing an additional 432 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Ingredion by 1.5% in the third quarter. Principal Financial Group Inc. now owns 725,374 shares of the company’s stock valued at $99,683,000 after purchasing an additional 10,812 shares during the last quarter. Foster & Motley Inc. increased its stake in shares of Ingredion by 7.8% during the 3rd quarter. Foster & Motley Inc. now owns 11,509 shares of the company’s stock worth $1,582,000 after purchasing an additional 832 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Ingredion by 1.1% during the 3rd quarter. QRG Capital Management Inc. now owns 12,571 shares of the company’s stock worth $1,728,000 after purchasing an additional 133 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Stock Up 0.8 %

Ingredion stock opened at $133.77 on Friday. Ingredion has a fifty-two week low of $93.26 and a fifty-two week high of $138.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.52. The firm has a 50 day moving average price of $134.74 and a 200 day moving average price of $124.22. The company has a market capitalization of $8.70 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.21 and a beta of 0.72.

Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. Ingredion had a net margin of 8.47% and a return on equity of 17.18%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the firm earned $2.32 earnings per share. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts expect that Ingredion will post 10.05 earnings per share for the current year.

Ingredion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.39%. This is a boost from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, October 1st. Ingredion’s dividend payout ratio (DPR) is presently 32.72%.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.