Ingredion (NYSE:INGR) Reaches New 52-Week High at $126.27

Ingredion Incorporated (NYSE:INGR)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $126.27 and last traded at $125.19, with a volume of 14818 shares trading hands. The stock had previously closed at $120.01.

Wall Street Analysts Forecast Growth

INGR has been the topic of several analyst reports. StockNews.com upgraded shares of Ingredion from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. BMO Capital Markets raised their price target on shares of Ingredion from $117.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and an average price target of $127.17.

Ingredion Stock Up 7.5 %

The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. The stock’s 50 day moving average is $116.48 and its 200 day moving average is $115.16.

Ingredion (NYSE:INGR) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $2.08 EPS for the quarter, meeting analysts’ consensus estimates of $2.08. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $2.02 billion. Ingredion had a net margin of 8.45% and a return on equity of 16.56%. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $2.80 earnings per share. Analysts forecast that Ingredion Incorporated will post 9.7 EPS for the current year.

Ingredion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 1st were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $3.12 annualized dividend and a yield of 2.42%. Ingredion’s dividend payout ratio (DPR) is 31.26%.

Insiders Place Their Bets

In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total value of $149,375.00. Following the transaction, the senior vice president now owns 15,906 shares in the company, valued at $1,988,250. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Larry Fernandes sold 2,369 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $119.11, for a total value of $282,171.59. Following the completion of the transaction, the senior vice president now owns 28,848 shares of the company’s stock, valued at approximately $3,436,085.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert A. Ritchie sold 1,195 shares of Ingredion stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $125.00, for a total transaction of $149,375.00. Following the sale, the senior vice president now directly owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,554 shares of company stock worth $4,665,019. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Ingredion

A number of institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in Ingredion in the 4th quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Ingredion in the 2nd quarter worth $26,000. EverSource Wealth Advisors LLC raised its holdings in Ingredion by 102.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 233 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Family Firm Inc. bought a new position in Ingredion in the 2nd quarter worth $36,000. Finally, International Assets Investment Management LLC bought a new position in Ingredion in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Ingredion Company Profile

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.