Ingredion Incorporated Announces Quarterly Dividend of $0.80 (NYSE:INGR)

Ingredion Incorporated (NYSE:INGR) announced a quarterly dividend on Wednesday, March 12th, RTT News reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.80 per share on Tuesday, April 22nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.45%.

Ingredion has increased its dividend by an average of 7.0% per year over the last three years and has raised its dividend every year for the last 14 years. Ingredion has a dividend payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ingredion to earn $11.82 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 27.1%.

Ingredion Stock Down 2.0 %

Ingredion stock opened at $130.39 on Thursday. The firm’s 50 day moving average price is $131.83 and its two-hundred day moving average price is $136.59. Ingredion has a twelve month low of $109.51 and a twelve month high of $155.44. The firm has a market cap of $8.37 billion, a PE ratio of 13.43, a P/E/G ratio of 1.03 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 2.62.

Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the firm earned $1.65 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that Ingredion will post 11.14 EPS for the current fiscal year.

Insider Transactions at Ingredion

In other news, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total value of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at $4,295,906.76. This trade represents a 24.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INGR shares. Stephens decreased their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets dropped their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Oppenheimer reduced their price objective on shares of Ingredion from $178.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, UBS Group increased their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

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.