Ingredion Incorporated Announces Quarterly Dividend of $0.78 (NYSE:INGR)

Ingredion Incorporated (NYSE:INGRGet Free Report) announced a quarterly dividend on Thursday, March 14th, Wall Street Journal reports. Investors of record on Monday, April 1st will be paid a dividend of 0.78 per share on Tuesday, April 23rd. This represents a $3.12 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Thursday, March 28th.

Ingredion has increased its dividend payment by an average of 5.5% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Ingredion has a dividend payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ingredion to earn $10.10 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 30.9%.

Ingredion Stock Down 1.3 %

Shares of NYSE:INGR opened at $115.43 on Friday. The stock has a market cap of $7.57 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.11 and a beta of 0.81. The firm has a fifty day moving average price of $112.02 and a 200 day moving average price of $104.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. Ingredion has a 1-year low of $89.54 and a 1-year high of $118.83.

Ingredion (NYSE:INGRGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. Ingredion’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. Sell-side analysts predict that Ingredion will post 9.6 EPS for the current year.

Insider Activity

In other news, SVP Larry Fernandes sold 2,369 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total value of $272,624.52. Following the completion of the transaction, the senior vice president now owns 28,966 shares in the company, valued at approximately $3,333,407.28. The sale 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 firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $117.24, for a total transaction of $6,399,076.44. Following the completion of the transaction, the chief executive officer now directly owns 99,246 shares in the company, valued at approximately $11,635,601.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $115.08, for a total transaction of $272,624.52. Following the transaction, the senior vice president now owns 28,966 shares of the company’s stock, valued at $3,333,407.28. The disclosure for this sale can be found here. Insiders sold 58,920 shares of company stock worth $6,902,922 in the last 90 days. 1.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ingredion

Hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd boosted its stake in shares of Ingredion by 117.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,617 shares of the company’s stock worth $141,000 after purchasing an additional 872 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Ingredion by 1,760.0% in the first quarter. Acadian Asset Management LLC now owns 1,581 shares of the company’s stock worth $137,000 after acquiring an additional 1,496 shares during the last quarter. KBC Group NV acquired a new stake in shares of Ingredion in the fourth quarter worth approximately $130,000. State of Wyoming boosted its position in shares of Ingredion by 27.6% in the second quarter. State of Wyoming now owns 1,164 shares of the company’s stock worth $123,000 after acquiring an additional 252 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Ingredion by 13.0% in the third quarter. Lazard Asset Management LLC now owns 1,259 shares of the company’s stock worth $123,000 after acquiring an additional 145 shares during the last quarter. 84.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays upped their price objective on shares of Ingredion from $115.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Stephens restated an “overweight” rating and set a $130.00 price objective on shares of Ingredion in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group upgraded shares of Ingredion from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $122.00 to $135.00 in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and an average target price of $126.67.

Check Out Our Latest Analysis on INGR

Ingredion Company Profile

(Get Free Report)

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.

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Dividend History for Ingredion (NYSE:INGR)

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