Several other large investors have also recently modified their holdings of INGR. Global X Management Co. LLC raised its position in Ingredion by 58.0% in the third quarter. Global X Management Co. LLC now owns 771 shares of the company’s stock worth $103,000 after buying an additional 283 shares in the last quarter. NEXT Financial Group Inc raised its position in Ingredion by 14.4% in the third quarter. NEXT Financial Group Inc now owns 795 shares of the company’s stock worth $106,000 after buying an additional 100 shares in the last quarter. ClariVest Asset Management LLC bought a new position in Ingredion during the second quarter worth about $135,000. Penserra Capital Management LLC raised its position in Ingredion by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,296 shares of the company’s stock worth $172,000 after buying an additional 648 shares in the last quarter. Finally, Smithfield Trust Co. raised its position in Ingredion by 320.9% in the second quarter. Smithfield Trust Co. now owns 1,448 shares of the company’s stock worth $187,000 after buying an additional 1,104 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.
United Services Automobile Association boosted its position in shares of Ingredion Incorporated (NYSE:INGR) by 152.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,563 shares of the company’s stock after buying an additional 13,643 shares during the period. United Services Automobile Association’s holdings in Ingredion were worth $3,002,000 as of its most recent filing with the SEC.
Shares of Ingredion Incorporated (NYSE:INGR) traded up 1.08% during mid-day trading on Thursday, hitting $118.74. The stock had a trading volume of 848,865 shares. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 18.13 and a beta of 0.73. The firm’s 50-day moving average price is $124.58 and its 200 day moving average price is $128.71. Ingredion Incorporated has a 12-month low of $96.01 and a 12-month high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.03. Ingredion had a return on equity of 21.08% and a net margin of 8.33%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $1.42 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts forecast that Ingredion Incorporated will post $7.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 25th. Investors of record on Friday, December 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, December 28th. Ingredion’s dividend payout ratio (DPR) is presently 30.77%.
INGR has been the subject of a number of analyst reports. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 18th. Jefferies Group LLC reiterated a “buy” rating and set a $145.00 price target on shares of Ingredion in a research report on Friday, February 3rd. Credit Suisse Group boosted their price target on Ingredion from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, November 3rd. Finally, Stephens lowered Ingredion from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $148.50.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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