Ingredion Incorporated (NYSE:INGR) released its quarterly earnings results on Wednesday. The company reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.17, Bloomberg Earnings reports. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.52 billion. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $1.96 earnings per share. Ingredion updated its FY17 guidance to $7.65-7.80 EPS.
Ingredion (NYSE INGR) traded up $130.03 on Friday, reaching $130.03. 158,536 shares of the company’s stock traded hands, compared to its average volume of 272,201.
The firm has a market capitalization of $$9,273.13, a PE ratio of 16.90 and a beta of 0.68. The firm has a market capitalization of $$9,273.13 and a PE ratio of 16.90.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.86%. This is an increase from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, September 29th. Ingredion’s dividend payout ratio (DPR) is presently 34.38%.
Several research firms have issued reports on INGR. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a report on Friday, August 4th. Jefferies Group LLC set a $145.00 price objective on shares of Ingredion and gave the company a “buy” rating in a report on Sunday, October 29th. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price objective on shares of Ingredion in a report on Friday, September 29th. Finally, BidaskClub raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $137.50.
In other Ingredion news, VP James P. Zallie sold 27,972 shares of Ingredion stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the transaction, the vice president now directly owns 29,429 shares of the company’s stock, valued at $3,690,102.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The disclosure for this sale can be found here. Insiders have sold 52,882 shares of company stock worth $6,622,034 over the last ninety days. 1.92% of the stock is owned by insiders.
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Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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