Boston Financial Mangement LLC raised its stake in Ingredion Inc (NYSE:INGR) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,201 shares of the company’s stock after purchasing an additional 4,797 shares during the period. Boston Financial Mangement LLC owned approximately 0.11% of Ingredion worth $11,072,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of INGR. Meeder Asset Management Inc. increased its position in shares of Ingredion by 146.4% during the 4th quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock worth $155,000 after purchasing an additional 659 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Ingredion by 3.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 13,430 shares of the company’s stock worth $1,878,000 after purchasing an additional 455 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Ingredion by 26.7% during the 4th quarter. CIBC Asset Management Inc now owns 3,561 shares of the company’s stock worth $498,000 after purchasing an additional 750 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Ingredion in the 4th quarter valued at about $114,000. Finally, US Bancorp DE increased its position in Ingredion by 17.3% in the 4th quarter. US Bancorp DE now owns 9,943 shares of the company’s stock valued at $1,390,000 after acquiring an additional 1,468 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on INGR. Zacks Investment Research cut shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Credit Suisse Group set a $156.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research report on Wednesday, January 10th. BidaskClub raised shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Jefferies Group set a $145.00 target price on shares of Ingredion and gave the company a “buy” rating in a research note on Sunday, October 29th. Finally, Stephens raised shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $146.00.
In other Ingredion news, SVP Martin Sonntag sold 14,939 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $135.00, for a total value of $2,016,765.00. Following the transaction, the senior vice president now directly owns 9,875 shares in the company, valued at $1,333,125. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jorgen Kokke sold 20,674 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 23,119 shares in the company, valued at $3,074,827. The disclosure for this sale can be found here. Insiders sold 52,215 shares of company stock worth $7,007,843 over the last quarter. 1.92% of the stock is owned by corporate insiders.
Ingredion Inc (NYSE:INGR) traded down $0.33 during trading on Wednesday, reaching $128.04. 13,153 shares of the company traded hands, compared to its average volume of 447,298. The company has a quick ratio of 1.66, a current ratio of 2.52 and a debt-to-equity ratio of 0.60. Ingredion Inc has a twelve month low of $113.42 and a twelve month high of $146.28. The company has a market cap of $9,304.36, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.42 and a beta of 0.71.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.01). Ingredion had a net margin of 8.63% and a return on equity of 20.42%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $1.67 EPS. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. research analysts anticipate that Ingredion Inc will post 8.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Tuesday, January 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. Ingredion’s dividend payout ratio (DPR) is presently 33.95%.
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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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