Ingredion Incorporated (NYSE:INGR – Get Rating) declared a quarterly dividend on Monday, September 26th, Zacks reports. Shareholders of record on Thursday, October 6th will be paid a dividend of 0.71 per share on Tuesday, October 25th. This represents a $2.84 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, October 5th. This is an increase from Ingredion's previous quarterly dividend of $0.65.
Ingredion has increased its dividend payment by an average of 1.7% annually over the last three years and has increased its dividend every year for the last 11 years. Ingredion has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ingredion to earn $7.60 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 34.2%.
Get Ingredion alerts:Ingredion Stock Down 0.7 %
Shares of NYSE INGR traded down $0.58 during midday trading on Wednesday, hitting $82.21. The company's stock had a trading volume of 5,039 shares, compared to its average volume of 381,218. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 0.96. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 12.14 and a beta of 0.76. The business's fifty day simple moving average is $88.31 and its two-hundred day simple moving average is $88.52. Ingredion has a 1 year low of $78.81 and a 1 year high of $101.89.
Ingredion (NYSE:INGR – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.94 by $0.18. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.92 billion. Ingredion had a net margin of 6.13% and a return on equity of 14.53%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, equities analysts predict that Ingredion will post 7.03 EPS for the current year.Hedge Funds Weigh In On Ingredion
Large investors have recently bought and sold shares of the stock. Vista Investment Management boosted its stake in Ingredion by 9.2% in the first quarter. Vista Investment Management now owns 7,164 shares of the company's stock valued at $624,000 after acquiring an additional 605 shares in the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of Ingredion by 2.4% in the first quarter. United Capital Financial Advisers LLC now owns 6,215 shares of the company's stock valued at $542,000 after buying an additional 147 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Ingredion in the first quarter valued at about $425,000. Captrust Financial Advisors raised its holdings in shares of Ingredion by 86.5% in the second quarter. Captrust Financial Advisors now owns 4,709 shares of the company's stock valued at $415,000 after buying an additional 2,184 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Ingredion by 7.8% in the first quarter. Raymond James Trust N.A. now owns 3,811 shares of the company's stock valued at $332,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 88.44% of the company's stock.
About Ingredion
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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.
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