Prudential Financial Inc. lifted its position in shares of Ingredion Inc (NYSE:INGR) by 11.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,452 shares of the company’s stock after buying an additional 49,982 shares during the quarter. Prudential Financial Inc. owned about 0.70% of Ingredion worth $60,977,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of INGR. Schwab Charles Investment Management Inc. boosted its stake in Ingredion by 39.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 414,111 shares of the company’s stock worth $49,367,000 after acquiring an additional 117,591 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Ingredion by 8.3% during the second quarter. Pacer Advisors Inc. now owns 1,506 shares of the company’s stock worth $180,000 after acquiring an additional 116 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Ingredion by 1.6% during the second quarter. Neuberger Berman Group LLC now owns 15,470 shares of the company’s stock worth $1,844,000 after acquiring an additional 241 shares in the last quarter. Swiss National Bank boosted its stake in Ingredion by 2.0% during the second quarter. Swiss National Bank now owns 261,700 shares of the company’s stock worth $31,197,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Cipher Capital LP lifted its stake in shares of Ingredion by 9.5% in the second quarter. Cipher Capital LP now owns 4,871 shares of the company’s stock valued at $581,000 after buying an additional 421 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.
Ingredion Inc (INGR) opened at $135.96 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.41 and a debt-to-equity ratio of 0.61. Ingredion Inc has a 12 month low of $113.07 and a 12 month high of $142.64. The firm has a market cap of $9,915.93, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.49 and a beta of 0.72.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.17. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the firm earned $1.96 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. equities research analysts anticipate that Ingredion Inc will post 7.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, December 29th. Ingredion’s payout ratio is currently 34.38%.
In related news, SVP Jorgen Kokke sold 20,674 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the transaction, the senior vice president now directly owns 23,119 shares of the company’s stock, valued at $3,074,827. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.92% of the stock is owned by company insiders.
A number of research firms have weighed in on INGR. Credit Suisse Group set a $156.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a research note on Wednesday. Stephens raised shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. BidaskClub raised shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Jefferies Group set a $145.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research note on Sunday, October 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Ingredion currently has a consensus rating of “Buy” and an average price target of $145.75.
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Ingredion Company Profile
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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