Ingredion Incorporated (NYSE:INGR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ingredion Incorporated (NYSE:INGR) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $151.00.

INGR has been the subject of a number of recent research reports. Barclays increased their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group boosted their target price on shares of Ingredion from $141.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets increased their target price on shares of Ingredion from $128.00 to $147.00 and gave the stock a “market perform” rating in a research report on Wednesday. Oppenheimer boosted their price target on shares of Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th.

Ingredion Stock Up 1.0 %

INGR opened at $151.55 on Friday. The firm has a market cap of $9.86 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.51 and a current ratio of 2.67. The business has a 50 day moving average price of $136.22 and a 200 day moving average price of $125.44. Ingredion has a twelve month low of $100.53 and a twelve month high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a return on equity of 17.75% and a net margin of 9.05%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. Research analysts forecast that Ingredion will post 10.6 EPS 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 issued a $0.80 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.78. This represents a $3.20 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Tuesday, October 1st. Ingredion’s payout ratio is currently 31.22%.

Insider Buying and Selling at Ingredion

In related news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total value of $721,027.00. Following the transaction, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares in the company, valued at $4,454,105.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at approximately $7,040,595.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,056 shares of company stock valued at $4,121,736 in the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ingredion

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock valued at $202,332,000 after purchasing an additional 846,967 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Ingredion by 177.8% during the 2nd quarter. Acadian Asset Management LLC now owns 396,743 shares of the company’s stock worth $45,491,000 after buying an additional 253,949 shares during the period. International Assets Investment Management LLC increased its stake in shares of Ingredion by 55,219.9% in the 3rd quarter. International Assets Investment Management LLC now owns 174,811 shares of the company’s stock valued at $240,240,000 after acquiring an additional 174,495 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ingredion by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock valued at $308,009,000 after acquiring an additional 125,543 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in Ingredion by 43.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 405,465 shares of the company’s stock worth $47,303,000 after acquiring an additional 123,406 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

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.