Ingredion Inc (NYSE:INGR) – Seaport Global Securities cut their Q2 2019 earnings per share (EPS) estimates for Ingredion in a report issued on Thursday, May 2nd, according to Zacks Investment Research. Seaport Global Securities analyst B. Hundley now expects that the company will post earnings per share of $1.60 for the quarter, down from their prior estimate of $1.71. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Ingredion’s FY2019 earnings at $6.95 EPS and FY2020 earnings at $7.76 EPS.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, May 2nd. The company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.12). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Ingredion had a return on equity of 17.18% and a net margin of 6.70%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the business earned $1.94 earnings per share.
INGR traded down $0.83 during trading on Monday, hitting $78.08. The company’s stock had a trading volume of 349,910 shares, compared to its average volume of 605,902. The company has a current ratio of 2.41, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. Ingredion has a twelve month low of $77.60 and a twelve month high of $116.39. The firm has a market cap of $5.22 billion, a P/E ratio of 11.28 and a beta of 0.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 1st will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, June 28th. Ingredion’s payout ratio is currently 36.13%.
In other Ingredion news, CFO James D. Gray acquired 1,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $78.37 per share, with a total value of $78,370.00. Following the completion of the acquisition, the chief financial officer now owns 15,222 shares in the company, valued at $1,192,948.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of INGR. Oregon Public Employees Retirement Fund boosted its stake in shares of Ingredion by 10,975.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock worth $50,000 after acquiring an additional 4,498,125 shares during the last quarter. Norges Bank acquired a new stake in shares of Ingredion in the fourth quarter worth approximately $58,054,000. FMR LLC boosted its stake in shares of Ingredion by 36.5% in the fourth quarter. FMR LLC now owns 2,020,943 shares of the company’s stock worth $184,714,000 after acquiring an additional 540,698 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Ingredion by 26.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,085,995 shares of the company’s stock worth $190,659,000 after acquiring an additional 437,284 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in shares of Ingredion by 1,249.6% in the third quarter. Federated Investors Inc. PA now owns 395,810 shares of the company’s stock worth $41,545,000 after acquiring an additional 366,481 shares during the last quarter. 89.40% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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