Ingredion (NYSE:INGR) Sets New 12-Month Low - Here's What Happened

Key Points

• Ingredion's stock hit a new 52-week low of $118.87, reflecting a decrease from its previous closure of $120.06.
• The company recently increased its quarterly dividend to $0.82, representing an annual yield of 2.7% and a payout ratio of 32.00%.
• A number of analysts have recently downgraded Ingredion's stock rating, with UBS lowering its target price to $130.00 and Wall Street Zen moving from a "buy" to a "hold" rating.

Ingredion Incorporated (NYSE:INGR - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The stock traded as low as $118.87 and last traded at $119.15, with a volume of 68330 shares. The stock had previously closed at $120.06.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen cut shares of Ingredion from a "buy" rating to a "hold" rating in a report on Saturday. UBS Group cut their target price on shares of Ingredion from $144.00 to $130.00 and set a "neutral" rating on the stock in a report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ingredion in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Ingredion has a consensus rating of "Moderate Buy" and a consensus target price of $147.20.

Ingredion Stock Up 0.2%

The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.95 and a beta of 0.74. The firm's 50 day simple moving average is $124.95 and its 200-day simple moving average is $131.20.

Ingredion (NYSE:INGR - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. The company had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.89 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. Ingredion's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.87 EPS. Ingredion has set its FY 2025 guidance at 11.100-11.600 EPS. On average, sell-side analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Wednesday, October 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $3.28 annualized dividend and a yield of 2.7%. This is an increase from Ingredion's previous quarterly dividend of $0.80. Ingredion's dividend payout ratio is presently 32.00%.

Insider Buying and Selling at Ingredion

In other Ingredion news, SVP Larry Fernandes sold 850 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $128.39, for a total value of $109,131.50. Following the transaction, the senior vice president directly owned 31,171 shares of the company's stock, valued at approximately $4,002,044.69. The trade was a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 36,287 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $126.52, for a total transaction of $4,591,031.24. Following the sale, the chief executive officer owned 50,129 shares in the company, valued at $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,137 shares of company stock worth $4,700,163 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ingredion

Institutional investors have recently made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion during the 1st quarter worth $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Ingredion during the 1st quarter worth $32,000. Hantz Financial Services Inc. boosted its position in shares of Ingredion by 810.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 255 shares of the company's stock worth $35,000 after purchasing an additional 227 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Ingredion by 40.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company's stock worth $38,000 after buying an additional 80 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Ingredion in the 2nd quarter worth about $40,000. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

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