Ingredion Incorporated (INGR) To Go Ex-Dividend on April 1st

Ingredion Incorporated (NYSE:INGR) declared a quarterly dividend on Wednesday, March 12th, RTT News reports. Investors of record on Tuesday, April 1st will be given a dividend of 0.80 per share on Tuesday, April 22nd. This represents a $3.20 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Tuesday, April 1st.

Ingredion has increased its dividend payment by an average of 7.0% annually over the last three years and has raised its dividend every year for the last 14 years. Ingredion has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ingredion to earn $11.82 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 27.1%.

Ingredion Stock Down 0.5 %

Shares of Ingredion stock opened at $134.86 on Friday. The stock’s 50-day moving average is $131.59 and its 200 day moving average is $136.46. Ingredion has a one year low of $109.51 and a one year high of $155.44. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. Ingredion’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. Equities research analysts anticipate that Ingredion will post 11.14 EPS for the current year.

Analyst Ratings Changes

INGR has been the topic of several recent research reports. Stephens cut their price target on Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets cut their target price on Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Oppenheimer decreased their price target on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.20.

Insider Transactions at Ingredion

In other Ingredion news, CEO James P. Zallie sold 10,815 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the completion of the transaction, the chief executive officer now owns 34,127 shares in the company, valued at $4,295,906.76. This represents a 24.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% 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.