Ingredion Inc (NYSE:INGR)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $80.89 and traded as low as $80.24. Ingredion shares last traded at $80.99, with a volume of 19,515 shares traded.
A number of equities analysts have recently commented on the company. TheStreet raised Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. Zacks Investment Research downgraded Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Ingredion presently has an average rating of “Hold” and a consensus target price of $118.50.
The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 11.82 and a beta of 0.85. The company has a quick ratio of 1.45, a current ratio of 2.41 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $80.95.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.54 EPS for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.12). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Ingredion had a return on equity of 17.18% and a net margin of 6.70%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 earnings per share. On average, sell-side analysts forecast that Ingredion Inc will post 6.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 1st will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, June 28th. Ingredion’s dividend payout ratio (DPR) is 36.13%.
In other Ingredion news, CFO James D. Gray purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $78.37 per share, with a total value of $78,370.00. Following the completion of the acquisition, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC acquired a new position in Ingredion in the first quarter valued at approximately $28,000. Harvest Group Wealth Management LLC acquired a new stake in shares of Ingredion in the first quarter valued at approximately $36,000. Private Capital Group LLC boosted its holdings in shares of Ingredion by 114.1% in the first quarter. Private Capital Group LLC now owns 546 shares of the company’s stock valued at $52,000 after acquiring an additional 291 shares during the period. Zions Bancorporation N.A. acquired a new stake in shares of Ingredion in the first quarter valued at approximately $63,000. Finally, Kinneret Advisory LLC acquired a new stake in shares of Ingredion in the fourth quarter valued at approximately $77,000. 89.16% of the stock is owned by hedge funds and other institutional investors.
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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