Stephens reissued their overweight rating on shares of Ingredion (NYSE:INGR – Free Report) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $130.00 price objective on the stock.
Several other research analysts have also commented on INGR. Barclays reduced their price target on Ingredion from $118.00 to $110.00 and set an equal weight rating for the company in a research report on Wednesday, November 1st. UBS Group boosted their target price on Ingredion from $132.00 to $136.00 and gave the stock a buy rating in a research note on Monday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Ingredion presently has an average rating of Moderate Buy and a consensus target price of $120.50.
Ingredion Trading Up 0.9 %
Ingredion (NYSE:INGR – Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.07 billion. Ingredion had a return on equity of 18.48% and a net margin of 7.61%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. Analysts expect that Ingredion will post 9.32 earnings per share for the current fiscal year.
Ingredion Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $3.12 annualized dividend and a yield of 2.82%. Ingredion’s payout ratio is presently 33.40%.
Institutional Trading of Ingredion
Several large investors have recently added to or reduced their stakes in INGR. Acadian Asset Management LLC grew its stake in Ingredion by 1,760.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,581 shares of the company’s stock valued at $137,000 after purchasing an additional 1,496 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Ingredion by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,385 shares of the company’s stock worth $2,125,000 after buying an additional 2,325 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Ingredion by 1.9% in the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock worth $504,608,000 after buying an additional 107,110 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Ingredion by 14.6% in the first quarter. Great West Life Assurance Co. Can now owns 42,242 shares of the company’s stock worth $3,791,000 after buying an additional 5,392 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Ingredion by 1.2% in the first quarter. Yousif Capital Management LLC now owns 29,968 shares of the company’s stock worth $2,612,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 84.80% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces 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.
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