Ingredion Incorporated Declares Quarterly Dividend of $0.82 (NYSE:INGR)

Ingredion Incorporated (NYSE:INGR) announced a quarterly dividend on Friday, December 12th. Investors of record on Friday, January 2nd will be given a dividend of 0.82 per share on Tuesday, January 20th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, January 2nd.

Ingredion has decreased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 14 years. Ingredion has a dividend payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ingredion to earn $11.82 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 27.7%.

Ingredion Trading Down 0.4%

NYSE INGR traded down $0.40 on Wednesday, hitting $110.80. The company’s stock had a trading volume of 37,903 shares, compared to its average volume of 559,689. The company has a current ratio of 2.75, a quick ratio of 1.79 and a debt-to-equity ratio of 0.41. Ingredion has a 52-week low of $102.31 and a 52-week high of $141.78. The firm has a market cap of $7.04 billion, a P/E ratio of 11.05, a PEG ratio of 0.90 and a beta of 0.72. The company’s 50-day simple moving average is $110.35 and its 200 day simple moving average is $122.17.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.02. Ingredion had a net margin of 9.07% and a return on equity of 18.14%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. Research analysts predict that Ingredion will post 11.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Ingredion from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Stephens decreased their price target on shares of Ingredion from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. UBS Group dropped their price objective on shares of Ingredion from $130.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Oppenheimer set a $136.00 price target on Ingredion in a research report on Wednesday, October 22nd. Finally, Industrial Alliance Securities set a $124.00 price objective on Ingredion in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $124.33.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.