Ingredion Inc (NYSE:INGR) announced a quarterly dividend on Thursday, May 16th, Wall Street Journal reports. Stockholders of record on Monday, July 1st will be paid a dividend of 0.625 per share on Thursday, July 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, June 28th.
Ingredion has raised its dividend by an average of 12.3% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Ingredion has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ingredion to earn $7.76 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 32.2%.
Shares of INGR opened at $80.60 on Thursday. The company has a 50 day moving average of $81.33. The stock has a market capitalization of $5.46 billion, a P/E ratio of 11.65 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.41 and a quick ratio of 1.45. Ingredion has a 1-year low of $75.67 and a 1-year high of $113.69.
INGR has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. TheStreet downgraded shares of Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $118.50.
In related news, CFO James D. Gray bought 1,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $78.37 per share, with a total value of $78,370.00. Following the completion of the purchase, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company’s stock.
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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