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. “
Separately, TheStreet downgraded Ingredion from a b- rating to a c+ rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $118.50.
Shares of Ingredion stock opened at $80.60 on Wednesday. Ingredion has a fifty-two week low of $75.67 and a fifty-two week high of $113.69. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 11.65 and a beta of 0.82. The business’s fifty day simple moving average is $81.33. The company has a current ratio of 2.41, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.12). Ingredion had a return on equity of 17.18% and a net margin of 6.70%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company earned $1.94 EPS. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts forecast that Ingredion will post 6.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, June 28th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.10%. Ingredion’s payout ratio is 36.13%.
In other news, CFO James D. Gray acquired 1,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the acquisition, the chief financial officer now directly owns 15,222 shares in the company, valued at approximately $1,192,948.14. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Ingredion by 1.2% during the first quarter. FMR LLC now owns 2,044,501 shares of the company’s stock valued at $193,594,000 after acquiring an additional 23,558 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Ingredion by 3.4% during the first quarter. Nordea Investment Management AB now owns 205,071 shares of the company’s stock valued at $19,418,000 after acquiring an additional 6,663 shares in the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of Ingredion by 86.9% during the first quarter. ZWJ Investment Counsel Inc. now owns 189,322 shares of the company’s stock valued at $17,927,000 after acquiring an additional 88,051 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Ingredion during the first quarter valued at about $14,035,000. Finally, Westpac Banking Corp grew its stake in shares of Ingredion by 14.9% during the first quarter. Westpac Banking Corp now owns 75,444 shares of the company’s stock valued at $7,144,000 after acquiring an additional 9,810 shares in the last quarter. Institutional investors and hedge funds own 89.38% of the company’s stock.
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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