Ingredion (NYSE:INGR) Releases FY 2022 Earnings Guidance

Ingredion (NYSE:INGRGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.90-$7.45 for the period, compared to the consensus estimate of $7.14. The company issued revenue guidance of -.

Ingredion Stock Up 0.9 %

Shares of Ingredion stock opened at $95.34 on Wednesday. The company has a market cap of $6.25 billion, a P/E ratio of 14.06 and a beta of 0.76. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.96 and a current ratio of 1.72. Ingredion has a one year low of $81.25 and a one year high of $101.89. The firm has a fifty day moving average of $88.89 and a two-hundred day moving average of $88.76.

Ingredion (NYSE:INGRGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.18. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.92 billion. Ingredion had a net margin of 6.13% and a return on equity of 14.53%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 EPS. On average, analysts forecast that Ingredion will post 7.19 earnings per share for the current year.

Ingredion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Friday, July 1st were issued a $0.65 dividend. The ex-dividend date was Thursday, June 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.73%. Ingredion’s dividend payout ratio is presently 38.35%.

Analyst Ratings Changes

A number of equities research analysts recently commented on INGR shares. TheStreet raised shares of Ingredion from a c+ rating to a b- rating in a research note on Tuesday, April 19th. StockNews.com cut shares of Ingredion from a buy rating to a hold rating in a research note on Saturday, May 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ingredion currently has a consensus rating of Moderate Buy and an average price target of $107.00.

Insiders Place Their Bets

In other Ingredion news, VP Valdirene Bastos-Evans sold 1,958 shares of the firm’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $85.52, for a total transaction of $167,448.16. Following the sale, the vice president now directly owns 7,375 shares of the company’s stock, valued at approximately $630,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Captrust Financial Advisors lifted its holdings in shares of Ingredion by 86.5% during the 2nd quarter. Captrust Financial Advisors now owns 4,709 shares of the company’s stock worth $415,000 after acquiring an additional 2,184 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Ingredion by 39.8% in the second quarter. Cubist Systematic Strategies LLC now owns 17,027 shares of the company’s stock valued at $1,501,000 after buying an additional 4,848 shares during the period. Sei Investments Co. raised its holdings in Ingredion by 9.5% in the second quarter. Sei Investments Co. now owns 35,095 shares of the company’s stock valued at $3,083,000 after buying an additional 3,039 shares during the period. Toroso Investments LLC raised its holdings in Ingredion by 194.5% in the first quarter. Toroso Investments LLC now owns 7,244 shares of the company’s stock valued at $631,000 after buying an additional 4,784 shares during the period. Finally, Beacon Pointe Advisors LLC raised its holdings in Ingredion by 243.5% in the first quarter. Beacon Pointe Advisors LLC now owns 23,758 shares of the company’s stock valued at $2,071,000 after buying an additional 16,842 shares during the period. 86.77% of the stock is currently owned by hedge funds and other institutional investors.

About Ingredion

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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.

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