Ingredion (NYSE:INGR) Reaches New 52-Week Low at $74.82

Ingredion Inc (NYSE:INGR) reached a new 52-week low during trading on Wednesday . The company traded as low as $74.82 and last traded at $74.94, with a volume of 13116 shares changing hands. The stock had previously closed at $76.12.

A number of research analysts have recently commented on INGR shares. TheStreet downgraded Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. Zacks Investment Research lowered Ingredion from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 6th. Citigroup decreased their price target on Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, Credit Suisse Group decreased their price target on Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Ingredion presently has an average rating of “Hold” and an average price target of $102.33.

The stock’s fifty day simple moving average is $80.07. The company has a market cap of $5.01 billion, a P/E ratio of 10.80 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.51 and a current ratio of 2.48.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.06. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm posted $1.66 EPS. Ingredion’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts forecast that Ingredion Inc will post 6.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were issued a dividend of $0.625 per share. The ex-dividend date was Friday, June 28th. This represents a $2.50 annualized dividend and a yield of 3.34%. Ingredion’s payout ratio is presently 36.13%.

In related news, CFO James D. Gray purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $78.37 per share, for a total transaction of $78,370.00. Following the acquisition, the chief financial officer now owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.56% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in INGR. Prime Capital Investment Advisors LLC purchased a new stake in Ingredion in the first quarter worth $28,000. Captrust Financial Advisors purchased a new stake in Ingredion in the second quarter worth $29,000. Advisory Services Network LLC increased its stake in Ingredion by 65.4% in the second quarter. Advisory Services Network LLC now owns 407 shares of the company’s stock worth $33,000 after purchasing an additional 161 shares during the period. Harvest Group Wealth Management LLC purchased a new stake in Ingredion in the first quarter worth $36,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Ingredion in the second quarter worth $50,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

About Ingredion (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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