Ingredion (NYSE:INGR) Sees Unusually-High Trading Volume

Ingredion Inc (NYSE:INGR) saw strong trading volume on Friday . 428,918 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 440,776 shares.The stock last traded at $83.84 and had previously closed at $83.32.

Several analysts have commented on the company. Citigroup lowered their price target on Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. ValuEngine upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Stephens assumed coverage on Ingredion in a report on Monday, October 7th. They issued an “overweight” rating and a $97.00 price target for the company. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Credit Suisse Group lowered their price target on Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $101.00.

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.53 and a current ratio of 2.45. The company has a market cap of $5.67 billion, a PE ratio of 12.12 and a beta of 0.81. The firm has a fifty day simple moving average of $80.86 and a 200 day simple moving average of $80.80.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.73 by $0.09. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Ingredion had a return on equity of 17.69% and a net margin of 6.67%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.70 EPS. As a group, equities analysts predict that Ingredion Inc will post 6.55 EPS for the current fiscal year.

The company also recently disclosed a 0.62500 dividend, which was paid on Friday, October 25th. Stockholders of record on Tuesday, October 1st were paid a $0.63 dividend. This represents a dividend yield of 3%. The ex-dividend date of this dividend was Monday, September 30th. Ingredion’s dividend payout ratio is currently 36.42%.

In other news, SVP Larry Fernandes sold 2,200 shares of Ingredion stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $82.53, for a total value of $181,566.00. Following the transaction, the senior vice president now directly owns 15,172 shares of the company’s stock, valued at approximately $1,252,145.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AGF Investments Inc. lifted its stake in shares of Ingredion by 6.2% in the 2nd quarter. AGF Investments Inc. now owns 2,374 shares of the company’s stock valued at $196,000 after purchasing an additional 138 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Ingredion by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,330 shares of the company’s stock valued at $1,017,000 after purchasing an additional 140 shares in the last quarter. Pflug Koory LLC lifted its stake in shares of Ingredion by 2.8% in the 2nd quarter. Pflug Koory LLC now owns 5,135 shares of the company’s stock valued at $424,000 after purchasing an additional 140 shares in the last quarter. World Asset Management Inc lifted its stake in shares of Ingredion by 3.5% in the 2nd quarter. World Asset Management Inc now owns 4,543 shares of the company’s stock valued at $375,000 after purchasing an additional 153 shares in the last quarter. Finally, O Shares Investment Advisers LLC lifted its stake in shares of Ingredion by 5.9% in the 2nd quarter. O Shares Investment Advisers LLC now owns 2,742 shares of the company’s stock valued at $226,000 after purchasing an additional 153 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Company Profile (NYSE:INGR)

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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