Prudential PLC trimmed its stake in Ingredion Incorporated (NYSE:INGR) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 344,706 shares of the company’s stock after selling 32,000 shares during the period. Prudential PLC owned about 0.48% of Ingredion worth $41,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. HL Financial Services LLC boosted its position in Ingredion by 0.4% in the 2nd quarter. HL Financial Services LLC now owns 2,730 shares of the company’s stock valued at $325,000 after buying an additional 12 shares during the period. IndexIQ Advisors LLC lifted its position in shares of Ingredion by 1.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 1,655 shares of the company’s stock worth $197,000 after purchasing an additional 29 shares during the period. Somerset Trust Co lifted its position in shares of Ingredion by 0.5% in the 2nd quarter. Somerset Trust Co now owns 6,317 shares of the company’s stock worth $753,000 after purchasing an additional 30 shares during the period. Smithfield Trust Co. lifted its position in shares of Ingredion by 2.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,650 shares of the company’s stock worth $197,000 after purchasing an additional 34 shares during the period. Finally, Benedict Financial Advisors Inc. lifted its position in shares of Ingredion by 1.0% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 4,050 shares of the company’s stock worth $494,000 after purchasing an additional 42 shares during the period. 83.93% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on INGR shares. Zacks Investment Research cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Tuesday, June 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $140.00.
In other Ingredion news, VP James P. Zallie sold 21,862 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the sale, the vice president now directly owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James P. Zallie sold 27,972 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares in the company, valued at $3,690,102.31. The disclosure for this sale can be found here. Insiders have sold 52,882 shares of company stock worth $6,622,034 over the last 90 days. 1.92% of the stock is currently owned by company insiders.
Ingredion Incorporated (INGR) traded up 0.72% during mid-day trading on Friday, hitting $124.25. 224,251 shares of the stock were exchanged. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $137.62. The company has a 50 day moving average price of $122.91 and a 200 day moving average price of $120.53. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 18.69 and a beta of 0.59.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business posted $1.53 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts anticipate that Ingredion Incorporated will post $7.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, October 2nd will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, September 29th. This is a boost from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 1.93%. Ingredion’s dividend payout ratio (DPR) is 36.09%.
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Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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