Last $74.62 USD
Change Today +0.24 / 0.32%
Volume 279.3K
INGR On Other Exchanges
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Stuttgart
As of 11:17 AM 10/2/14 All times are local (Market data is delayed by at least 15 minutes).

ingredion inc (INGR) Key Developments

Ingredion Incorporated Plans to Invest Approximately $100 Million to Increase its Manufacturing Capacity

Ingredion Incorporated announced that it plans to invest approximately $100 million to increase its manufacturing capacity for specialty ingredients. The planned expansion is driven by the growing demand for the Company's higher-valued ingredients. The capital investments are expected to be made over the next several years in manufacturing facilities located primarily in North America and Asia Pacific, where local crops like tapioca and rice can be better utilized. The investments will further optimize Ingredion's global manufacturing network, improve customer service and streamline inventories. These add to the on-going capital expenditures of over $1 billion since 2009.

Ingredion Incorporated Declares Quarterly Dividend Payable on October 27, 2014

The Board of Directors of Ingredion Incorporated declared a quarterly dividend of $0.42 per share on the company's common stock. The dividend is payable on October 27, 2014, to stockholders of record at the close of business on September 30, 2014.

Ingredion Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014 ; Provides Guidance for the Year 2014

Ingredion Incorporated reported earnings results for the second quarter and six months ended June 30, 2014. Second quarter 2014 operating income increased 16% to $163 million compared to $140 million in the second quarter of 2013. Second quarter 2014 EPS rose 13% to $1.35 from $1.20 in the second quarter 2013. Year-to-date 2014 operating income fell 10% from $315 million to $285 million largely as a result of on-going weakness in South America and a weaker-than-expected first quarter in North America. Year-to-date EPS was $2.31, down 11% from $2.61 in the year-ago period. The year-to-date cash flow provided by operations was $229 million compared to $112 million in the year-ago period. The company 2014 annual EPS guidance narrowed to $5.40 to $5.70.

Ingredion Mulls Acquisitions

Ingredion Incorporated (NYSE:INGR), which has reported an increase of 13% in earning Per share (EPS) for second quarter of 2013, is looking for acquisitions. Chairman, President and Chief Executive Officer, Ilene Gordon stated, “Today, we have also entered into an accelerated share repurchase agreement. This serves two purposes. First, we believe it is appropriate to return additional cash to shareholders even as we continue to look for strategic acquisitions. These actions support our strategy to deploy cash in shareholder friendly ways. Second, we will benefit from the EPS accretion this year and next.”

Ingredion and AGT Announce Agreement for Ingredion to Distribute AGT Pulse Flours, Protein and Bran Ingredients

Ingredion Incorporated entered an agreement with Alliance Grain Traders Inc. to be AGT's distributor of that company's pulse flours, protein and bran ingredients. The agreement includes products for consumer foods, for example, baked goods, snack, pasta and covers the United States, Canada, China, most of Europe, North Africa and the Middle East. Ingredion will be introducing these products to the market over the next 120 days. Most of the line will be marketed under Ingredion's HOMECRAFT(R) brand that currently encompasses a broad range of functional, gluten free and clean label flours.

 

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INGR

Industry Average

Valuation INGR Industry Range
Price/Earnings 15.6x
Price/Sales 0.9x
Price/Book 2.2x
Price/Cash Flow 15.2x
TEV/Sales 0.5x
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