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Last $77.19 USD
Change Today -0.64 / -0.82%
Volume 442.3K
INGR On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

ingredion inc (INGR) Key Developments

Wayne M. Hewett Not to Stand as Director of Ingredion Incorporated

On March 27, 2015 director Wayne M. Hewett informed Ingredion Incorporated of his decision not to stand for re-election to the company's Board of Directors at Ingredion's 2015 Annual Meeting of Stockholders expected to be held May 20, 2015. Mr. Hewett will continue to serve as a director of Ingredion and as a member of Ingredion's Audit Committee until the expiration of his term at the 2015 Annual Meeting.

Ingredion Incorporated Declares Quarterly Dividend, Payable on April 27, 2015

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 April 27, 2015, to stockholders of record at the close of business on March 31, 2015.

Ingredion Incorporated Receives Notification from the Federal Trade Commission on the Acquisition of Penford Corporation

On March 9, 2015, Ingredion Incorporated received notification from the Federal Trade Commission that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to the previously announced potential acquisition of Penford Corporation by Ingredion had been terminated. The merger was approved by Penford's shareholders on January 29, 2015. FTC clearance is the final U.S. regulatory approval required and Ingredion expects to complete the merger in March 2015, subject to the satisfaction or waiver of the remaining closing conditions relating to the merger.

Ingredion Incorporated Presents at The Consumer Analyst Group of Europe (CAGE) Conference, Mar-17-2015 11:15 AM

Ingredion Incorporated Presents at The Consumer Analyst Group of Europe (CAGE) Conference, Mar-17-2015 11:15 AM. Venue: Hilton London Metropole, 225 Edgware Road, London W2 1JU, United Kingdom. Speakers: Heather Kos, Vice President, Investor Relations and Corporate Communication, Ilene S. Gordon, Chairman, Chief Executive Officer and President, Jack C. Fortnum, Chief Financial Officer and Executive Vice President.

Ingredion Incorporated Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for 2015 and 2016; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014

Ingredion Incorporated reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of $1,368.3 million against $1,499.2 million for the same period in the last year. Operating income was $118.3 million against $160.7 million for the same period in the last year. Income before income taxes was $106.1 million against $145.6 million for the same period in the last year. Net income attributable to the company was $61.1 million or $0.83 per diluted share against $103.5 million or $1.35 per diluted share for the same period in the last year. Non-GAAP adjusted net income was $95.6 million or $1.30 per share against $103.5 million or $1.35 per share for the same period in the last year. Non-GAAP adjusted operating income was $153.2 million against $160.7 million for the same period in the last year. The reduction in net sales is largely due to lower pricing from passing along lower corn cost relative to last year. For the year, the company reported net sales of $5,668.4 million against $6,328.3 million for the same period in the last year. Operating income was $581.3 million against $612.7 million for the same period in the last year. Income before income taxes was $520.1 million against $546.8 million for the same period in the last year. Net income attributable to the company was $354.9 million or $4.74 per diluted share against $395.7 million or $5.05 per diluted share for the same period in the last year. Cash provided by operating activities was $731 million against $619 million for the same period in the last year. Capital expenditures, net of proceeds on disposals were $271 million against $295 million for the same period in the last year. Non-GAAP adjusted net income was $389.4 million or $5.20 per share against $395.7 million or $5.05 per share for the same period in the last year. Non-GAAP adjusted operating income was $616.2 million against $612.7 million for the same period in the last year. Net sales were down in the fourth quarter and full year as a result of the pass-through of lower raw material costs and currency devaluations, partially offset by volume growth. For the quarter, the company reported impairment charge of $32.8 million. 2015 EPS guidance, excluding the impact of the pending Penford acquisition, expected to be $5.40 to $5.90. The effective annual tax rate is expected to be in the range of 29% to 30%. Capital expenditures in 2015 are anticipated to be approximately $300 million. The company expects cash from operations of $650 million to $750 million. This is slightly down from last year as working capital normalizes after a year-over-year benefit in 2014 from significantly lower corn costs versus 2013, which impacts inventories, payables and receivables. And in 2016 and beyond, the company expects earnings accretion to be even greater.

 

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INGR

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Valuation INGR Industry Range
Price/Earnings 16.3x
Price/Sales 1.0x
Price/Book 2.5x
Price/Cash Flow 15.6x
TEV/Sales 0.5x
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