Candriam Luxembourg S.C.A. purchased a new position in Ingredion Inc (NYSE:INGR) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,405 shares of the company’s stock, valued at approximately $283,000.
Several other institutional investors and hedge funds also recently bought and sold shares of INGR. CWM Advisors LLC purchased a new position in shares of Ingredion in the 1st quarter worth about $37,000. Bartlett & Co. LLC purchased a new position in shares of Ingredion in the 1st quarter worth about $40,000. Heritage Wealth Advisors raised its position in shares of Ingredion by 552.7% in the 2nd quarter. Heritage Wealth Advisors now owns 3,407 shares of the company’s stock worth $43,000 after purchasing an additional 2,885 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Ingredion by 33.7% in the 1st quarter. Meeder Asset Management Inc. now owns 1,614 shares of the company’s stock worth $121,000 after purchasing an additional 407 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Ingredion in the 1st quarter worth about $183,000. 85.15% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on INGR. Credit Suisse Group lowered their price target on Ingredion from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. ValuEngine lowered Ingredion from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Berenberg Bank assumed coverage on Ingredion in a research report on Thursday, July 16th. They issued a “buy” rating and a $105.00 target price for the company. BMO Capital Markets decreased their target price on Ingredion from $104.00 to $93.00 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Finally, Zacks Investment Research lowered Ingredion from a “hold” rating to a “sell” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $94.43.
Ingredion stock opened at $86.50 on Friday. The business has a 50-day simple moving average of $84.00 and a two-hundred day simple moving average of $83.74. The company has a market cap of $5.79 billion, a P/E ratio of 15.04 and a beta of 0.76. Ingredion Inc has a 52-week low of $59.11 and a 52-week high of $99.51. The company has a quick ratio of 1.42, a current ratio of 2.34 and a debt-to-equity ratio of 0.76.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.07. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.44 billion. Ingredion had a return on equity of 17.07% and a net margin of 6.49%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. Research analysts anticipate that Ingredion Inc will post 6.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.91%. Ingredion’s dividend payout ratio is currently 37.89%.
In other news, Director Stephan B. Tanda purchased 985 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $81.04 per share, for a total transaction of $79,824.40. Following the purchase, the director now directly owns 2,318 shares in the company, valued at approximately $187,850.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.15% 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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