Ingredion (NYSE:INGR) Sets New 12-Month High at $137.21

Ingredion Incorporated (NYSE:INGR) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $137.21 and last traded at $136.63, with a volume of 11399 shares. The stock had previously closed at $135.74.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $122.00 to $145.00 in a report on Friday, August 9th. UBS Group raised their price target on Ingredion from $141.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Oppenheimer boosted their price objective on Ingredion from $126.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their target price on shares of Ingredion from $120.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.33.

Ingredion Trading Up 0.6 %

The business has a 50 day moving average of $124.81 and a 200 day moving average of $118.98. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.24 and a beta of 0.73. The company has a quick ratio of 1.51, a current ratio of 2.52 and a debt-to-equity ratio of 0.47.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.34. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.98 billion. Ingredion had a return on equity of 17.18% and a net margin of 8.47%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.32 EPS. On average, research analysts forecast that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.

Ingredion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, October 1st. Ingredion’s dividend payout ratio is presently 31.26%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $134.02, for a total transaction of $134,020.00. Following the sale, the chief executive officer now owns 52,530 shares in the company, valued at $7,040,070.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO James P. Zallie sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were 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 approximately $7,040,070.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James P. Zallie sold 1,300 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 52,530 shares of the company’s stock, valued at $7,040,595.90. The disclosure for this sale can be found here. Insiders sold a total of 26,045 shares of company stock valued at $3,482,491 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new stake in Ingredion during the fourth quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Ingredion in the 2nd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ingredion in the 2nd quarter worth approximately $33,000. Finally, Family Firm Inc. purchased a new position in Ingredion during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

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.