Ingredion (NYSE:INGR) Sets New 12-Month Low After Analyst Downgrade

Ingredion Incorporated (NYSE:INGR) shares reached a new 52-week low during trading on Wednesday after UBS Group lowered their price target on the stock from $130.00 to $119.00. UBS Group currently has a neutral rating on the stock. Ingredion traded as low as $102.31 and last traded at $107.5850, with a volume of 1913265 shares. The stock had previously closed at $114.13.

Other research analysts have also issued research reports about the stock. Wall Street Zen cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Oppenheimer set a $136.00 price target on Ingredion in a research note on Wednesday, October 22nd. Weiss Ratings downgraded Ingredion from a “buy (b)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Stephens cut their price objective on shares of Ingredion from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Zacks Research lowered shares of Ingredion from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ingredion presently has an average rating of “Hold” and a consensus price target of $124.33.

Insider Activity

In related news, CEO James P. Zallie sold 36,287 shares of Ingredion stock in a transaction dated 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 completion of the sale, the chief executive officer owned 50,129 shares of the company’s stock, valued at $6,342,321.08. The trade was a 41.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ingredion

A number of institutional investors have recently bought and sold shares of INGR. WPG Advisers LLC grew its position in Ingredion by 100.8% during the 3rd quarter. WPG Advisers LLC now owns 245 shares of the company’s stock worth $30,000 after purchasing an additional 123 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Ingredion during the 1st quarter worth approximately $32,000. Hantz Financial Services Inc. grew its stake in Ingredion by 810.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $35,000 after acquiring an additional 227 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Ingredion in the third quarter valued at about $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Ingredion by 40.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 279 shares of the company’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Ingredion Trading Down 1.2%

The company has a 50 day moving average of $121.23 and a 200 day moving average of $129.55. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.95 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.81 and a current ratio of 2.78.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.02. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.90 billion. Ingredion had a net margin of 9.24% and a return on equity of 19.04%. Ingredion has set its FY 2025 guidance at 11.100-11.300 EPS. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Wednesday, October 1st were issued a $0.82 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Ingredion’s payout ratio is 32.70%.

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.