Ingredion (NYSE:INGR) Hits New 12-Month High at $119.02

Ingredion Incorporated (NYSE:INGR) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $119.02 and last traded at $118.57, with a volume of 15489 shares traded. The stock had previously closed at $118.45.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INGR shares. Stephens reaffirmed an “overweight” rating and set a $130.00 target price on shares of Ingredion in a research report on Wednesday, February 7th. StockNews.com raised Ingredion from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. The Goldman Sachs Group raised Ingredion from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $135.00 in a report on Thursday, February 15th. Finally, Barclays boosted their price objective on Ingredion from $115.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ingredion presently has an average rating of “Moderate Buy” and a consensus price target of $126.67.

Ingredion Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $115.28 and a 200 day simple moving average of $109.37. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 1.08 and a beta of 0.81.

Ingredion (NYSE:INGR) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.08. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.02 billion. Ingredion had a return on equity of 18.57% and a net margin of 7.88%. The business’s revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 earnings per share. As a group, analysts anticipate that Ingredion Incorporated will post 9.62 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Monday, April 1st were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.64%. Ingredion’s dividend payout ratio is presently 32.50%.

Insiders Place Their Bets

In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the completion of the sale, the chief executive officer now directly owns 99,246 shares in the company, valued at $11,635,601.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingredion news, CEO James P. Zallie sold 54,581 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $117.24, for a total value of $6,399,076.44. Following the transaction, the chief executive officer now owns 99,246 shares of the company’s stock, valued at $11,635,601.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Davida Marie Gable sold 1,968 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $117.38, for a total value of $231,003.84. Following the completion of the transaction, the vice president now directly owns 1,723 shares in the company, valued at approximately $202,245.74. The disclosure for this sale can be found here. Insiders sold 58,921 shares of company stock worth $6,903,045 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in shares of Ingredion in the fourth quarter valued at $25,000. Cary Street Partners Investment Advisory LLC raised its stake in Ingredion by 63.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 377 shares of the company’s stock valued at $37,000 after purchasing an additional 147 shares during the period. Allworth Financial LP increased its stake in shares of Ingredion by 414.1% in the third quarter. Allworth Financial LP now owns 401 shares of the company’s stock worth $39,000 after acquiring an additional 323 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Ingredion by 40.2% in the fourth quarter. Blue Trust Inc. now owns 359 shares of the company’s stock worth $39,000 after acquiring an additional 103 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Ingredion by 59.8% in the fourth quarter. National Bank of Canada FI now owns 425 shares of the company’s stock worth $47,000 after acquiring an additional 159 shares during the last quarter. Institutional investors 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.