By otakuyassine3@gmail.com 
Ingredion Incorporated (NYSE:INGR – Get Free Report) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Thursday, January 2nd will be given a dividend of 0.80 per share on Tuesday, January 21st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, January 2nd.
Ingredion has raised its dividend by an average of 5.5% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Ingredion has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ingredion to earn $11.16 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 28.7%.
Ingredion Stock Performance
Shares of INGR opened at $142.16 on Wednesday. Ingredion has a 52 week low of $105.78 and a 52 week high of $155.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.67. The company has a market capitalization of $9.26 billion, a PE ratio of 13.87, a PEG ratio of 1.24 and a beta of 0.74. The company’s 50 day moving average price is $141.92 and its 200 day moving average price is $130.98.
Ingredion (NYSE:INGR – Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.58 by $0.47. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. Ingredion’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS. Research analysts expect that Ingredion will post 10.59 EPS for the current fiscal year.
Insider Transactions at Ingredion
In other Ingredion news, SVP Larry Fernandes sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $153.41, for a total value of $721,027.00. Following the sale, the senior vice president now owns 29,034 shares of the company’s stock, valued at $4,454,105.94. This trade represents a 13.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James D. Gray sold 54,869 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $146.76, for a total value of $8,052,574.44. Following the transaction, the chief financial officer now owns 12,795 shares of the company’s stock, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,198 shares of company stock worth $9,702,461. Company insiders own 1.80% of the company’s stock.
Wall Street Analysts Forecast Growth
INGR has been the subject of several recent research reports. Barclays boosted their price target on Ingredion from $145.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Stephens upgraded shares of Ingredion to a “hold” rating in a report on Monday, December 2nd. BMO Capital Markets lifted their price objective on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Oppenheimer increased their target price on shares of Ingredion from $147.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, UBS Group boosted their price target on Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.17.
Check Out Our Latest Stock Report on INGR
About Ingredion
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.
Read More
Receive News & Ratings for Ingredion Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ingredion and related companies with MarketBeat.com’s FREE daily email newsletter.