Wilbanks Smith & Thomas Asset Management LLC bought a new stake in Ingredion Inc (NYSE:INGR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,436 shares of the company’s stock, valued at approximately $201,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of INGR. Toronto Dominion Bank grew its position in Ingredion by 10.6% in the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after acquiring an additional 91 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Ingredion in the fourth quarter valued at approximately $114,000. Meeder Asset Management Inc. grew its position in Ingredion by 146.4% in the fourth quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock valued at $155,000 after acquiring an additional 659 shares in the last quarter. WFG Advisors LP grew its position in Ingredion by 0.4% in the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after acquiring an additional 6 shares in the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in Ingredion in the third quarter valued at approximately $173,000. 86.16% of the stock is owned by institutional investors.
Ingredion Inc (INGR) traded down $1.28 during mid-day trading on Wednesday, reaching $127.97. The company’s stock had a trading volume of 184,059 shares, compared to its average volume of 441,189. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.52 and a quick ratio of 1.66. The company has a market capitalization of $9,422.94, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. Ingredion Inc has a 12 month low of $113.42 and a 12 month high of $146.28.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.01). The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.43 billion. Ingredion had a net margin of 8.63% and a return on equity of 20.42%. Ingredion’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the business posted $1.67 earnings per share. analysts predict that Ingredion Inc will post 8.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, December 29th. Ingredion’s payout ratio is currently 33.95%.
In related news, SVP Robert J. Stefansic sold 9,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $129.62, for a total value of $1,166,580.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Martin Sonntag sold 16,602 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $135.01, for a total value of $2,241,436.02. Following the completion of the transaction, the senior vice president now owns 9,875 shares of the company’s stock, valued at approximately $1,333,223.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,541 shares of company stock worth $5,424,781. 1.92% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on INGR shares. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Wednesday, November 8th. Jefferies Group set a $145.00 target price on Ingredion and gave the company a “buy” rating in a research note on Sunday, October 29th. Credit Suisse Group reiterated an “outperform” rating and set a $145.00 target price (up from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. Finally, BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $146.00.
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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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