Ingredion (INGR) rose 0.32% to close at $129.28 per share during the third week of September 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 0.32%, -5.3%, and 36.0%, respectively, as of September 23, 2016.
INGR is trading 3.9% below its 20-day moving average, 3.8% below its 50-day moving average, and 13.2% above its 200-day moving average.
Related ETFs and peers
The Fidelity MSCI Consumer Staples ETF (FSTA) invests 0.38% of its holdings in Ingredion. The ETF tracks a market-cap-weighted index of stocks in the US consumer staples sector. The YTD price movement of FSTA was 7.0% on September 23, 2016.
The SPDR S&P 400 Mid Cap Growth ETF (MDYG) invests 0.59% of its holdings in Ingredion. The ETF tracks a market-cap-weighted index of growth companies culled from the S&P 400.
The market caps of Ingredion’s competitors are as follows:
Latest news on Ingredion
Ingredion has declared a quarterly dividend of $0.50 per share on its common stock. The dividend will be paid on October 25, 2016, to shareholders of record at the close of business on October 3, 2016.
Performance in 2Q16
Ingredion reported 2Q16 net sales of $1.46 billion, a rise of 0.44% over $1.45 billion in 2Q15. Sales for the North America and EMEA (Europe, the Middle East, and Africa) regions rose 3.0% and 1.7%, respectively.
Sales for the South America and Asia-Pacific regions fell 4.0% and 6.1%, respectively, between 2Q15 and 2Q16. The company’s gross profit margin and operating income rose 10.8% and 14.6%, respectively. It reported a restructuring charge of $13.0 million in 2Q16.
Its net income and EPS (earnings per share) rose to $117.2 million and $1.58, respectively, in 2Q16 compared to $106.7 million and $1.47, respectively, in 2Q15. It reported adjusted EPS of $1.73 in 2Q16, a rise of 13.1% from 2Q15.
Ingredion’s cash and cash equivalents and inventories rose 12.2% and 6.7%, respectively, between 4Q15 and 2Q16. Its current ratio rose to 3.1x, and its debt-to-equity ratio fell to 1.2x in 2Q16, compared to 2.6x and 1.3x, respectively, in 4Q15.
Ingredion (INGR) made the following projections for fiscal 2016:
- adjusted EPS of $6.70–$6.90, which excludes acquisition-related and integration costs and impairment and restructuring costs
- effective tax rate of 30%–32%
- cash generated from operations of $725 million–$775 million
- capital expenditure of $300 million
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