Virginia Retirement Systems ET AL cut its position in Ingredion Inc (NYSE:INGR) by 6.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,500 shares of the company’s stock after selling 16,400 shares during the quarter. Virginia Retirement Systems ET AL owned approximately 0.32% of Ingredion worth $24,298,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in Ingredion in the 2nd quarter valued at $153,000. Legacy Financial Advisors Inc. grew its stake in Ingredion by 382.7% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 1,559 shares of the company’s stock valued at $163,000 after buying an additional 1,236 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Ingredion by 42.2% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock valued at $187,000 after buying an additional 500 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in Ingredion in the 2nd quarter valued at $219,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Ingredion in the 2nd quarter valued at $244,000. Institutional investors and hedge funds own 84.49% of the company’s stock.
NYSE INGR opened at $104.91 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.53 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.35 and a beta of 0.64. Ingredion Inc has a 52-week low of $89.48 and a 52-week high of $146.28.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, November 1st. The company reported $1.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.70. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.46 billion. Ingredion had a net margin of 7.40% and a return on equity of 17.55%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Research analysts forecast that Ingredion Inc will post 6.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, October 1st were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.38%. This is a positive change from Ingredion’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, September 28th. Ingredion’s dividend payout ratio (DPR) is currently 32.47%.
INGR has been the topic of a number of research analyst reports. Citigroup lowered their target price on shares of Ingredion from $95.00 to $89.00 and set a “sell” rating on the stock in a research note on Wednesday, October 24th. Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. ValuEngine upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Credit Suisse Group lowered shares of Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 price target on the stock. in a research report on Wednesday, July 18th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $145.00 price target on shares of Ingredion in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Ingredion has an average rating of “Hold” and an average price target of $124.50.
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Ingredion Company Profile
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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