Ingredion (INGR) Upgraded at Zacks Investment Research
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
A number of other research firms have also commented on INGR. Vertical Group lowered Ingredion from a buy rating to a hold rating in a research report on Thursday, January 24th. ValuEngine lowered Ingredion from a hold rating to a sell rating in a research report on Monday, February 4th. Seaport Global Securities began coverage on Ingredion in a research report on Thursday, February 21st. They issued a buy rating for the company. Finally, TheStreet lowered Ingredion from a b- rating to a c+ rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $118.50.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.12). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 earnings per share. Equities analysts expect that Ingredion will post 6.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 1st will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, June 28th. Ingredion’s payout ratio is currently 36.13%.
Several institutional investors have recently made changes to their positions in INGR. Oregon Public Employees Retirement Fund increased its position in shares of Ingredion by 10,975.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock valued at $50,000 after purchasing an additional 4,498,125 shares during the last quarter. Norges Bank purchased a new stake in shares of Ingredion during the 4th quarter valued at $58,054,000. FMR LLC increased its position in shares of Ingredion by 36.5% during the 4th quarter. FMR LLC now owns 2,020,943 shares of the company’s stock valued at $184,714,000 after purchasing an additional 540,698 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Ingredion by 26.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,085,995 shares of the company’s stock valued at $190,659,000 after purchasing an additional 437,284 shares during the last quarter. Finally, Ardevora Asset Management LLP grew its stake in shares of Ingredion by 1,291.0% during the 4th quarter. Ardevora Asset Management LLP now owns 370,400 shares of the company’s stock worth $33,855,000 after acquiring an additional 343,771 shares during the period. 87.59% of the stock is owned by hedge funds and other institutional investors.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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