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

Ingredion Incorporated (NYSE:INGR - Get Free Report) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Tuesday, July 1st will be given a dividend of 0.80 per share on Tuesday, July 22nd. This represents a $3.20 annualized dividend and a yield of 2.34%. The ex-dividend date is Tuesday, July 1st.

Ingredion has increased its dividend by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Ingredion has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of INGR traded down $0.35 during mid-day trading on Friday, reaching $136.89. The company had a trading volume of 362,971 shares, compared to its average volume of 471,490. Ingredion has a twelve month low of $111.54 and a twelve month high of $155.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.62 and a quick ratio of 1.69. The company's 50-day moving average is $132.94 and its 200-day moving average is $135.63. The company has a market capitalization of $8.80 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.03 and a beta of 0.73.

Ingredion (NYSE:INGR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.53. Ingredion had a return on equity of 18.62% and a net margin of 8.71%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the prior year, the firm posted $2.08 EPS. Ingredion's quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Ingredion will post 11.14 EPS for the current year.

Insider Activity at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total value of $325,968.00. Following the transaction, the senior vice president now directly owns 31,996 shares in the company, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INGR. Integrated Wealth Concepts LLC boosted its position in Ingredion by 32.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,082 shares of the company's stock valued at $281,000 after buying an additional 514 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ingredion by 63.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,694 shares of the company's stock valued at $499,000 after buying an additional 1,440 shares during the last quarter. NewEdge Advisors LLC boosted its position in Ingredion by 9.0% in the 1st quarter. NewEdge Advisors LLC now owns 9,687 shares of the company's stock valued at $1,310,000 after buying an additional 797 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ingredion by 5.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 101,414 shares of the company's stock valued at $13,712,000 after buying an additional 5,255 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in Ingredion by 5.6% in the 1st quarter. Focus Partners Wealth now owns 3,636 shares of the company's stock valued at $492,000 after buying an additional 192 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INGR has been the subject of a number of recent research reports. Stephens dropped their target price on 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 target price on Ingredion from $147.00 to $133.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. UBS Group set a $155.00 price target on Ingredion in a report on Tuesday, April 22nd. Oppenheimer dropped their price target on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Ingredion has an average rating of "Moderate Buy" and a consensus price target of $152.20.

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.