Equity Investment Corp acquired a new stake in shares of Ingredion Inc (NYSE:INGR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,675 shares of the company’s stock, valued at approximately $386,000.
A number of other large investors have also bought and sold shares of INGR. Massachusetts Financial Services Co. MA bought a new stake in Ingredion during the third quarter valued at $60,506,000. Bessemer Group Inc. boosted its stake in Ingredion by 62.2% during the second quarter. Bessemer Group Inc. now owns 1,034,059 shares of the company’s stock valued at $114,472,000 after buying an additional 396,628 shares during the period. Victory Capital Management Inc. raised its position in Ingredion by 19.7% during the third quarter. Victory Capital Management Inc. now owns 2,061,660 shares of the company’s stock valued at $216,392,000 after purchasing an additional 339,432 shares in the last quarter. USS Investment Management Ltd raised its position in Ingredion by 306.0% during the second quarter. USS Investment Management Ltd now owns 312,200 shares of the company’s stock valued at $34,561,000 after purchasing an additional 235,300 shares in the last quarter. Finally, CWM LLC purchased a new stake in Ingredion during the third quarter valued at about $20,759,000. 84.49% of the stock is owned by institutional investors.
A number of research firms have weighed in on INGR. Citigroup upgraded Ingredion from a “sell” rating to a “neutral” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded Ingredion from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. ValuEngine upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Credit Suisse Group downgraded 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, Stephens restated a “hold” rating and set a $110.00 price target on shares of Ingredion in a research report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Ingredion currently has an average rating of “Hold” and an average target price of $124.50.
NYSE INGR opened at $105.50 on Wednesday. Ingredion Inc has a twelve month low of $89.48 and a twelve month high of $146.28. 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 stock has a market cap of $7.48 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.35 and a beta of 0.64.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, November 1st. The company reported $1.70 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.70. Ingredion had a return on equity of 17.55% and a net margin of 7.40%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $2.21 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts predict that Ingredion Inc will post 6.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, October 1st were issued a $0.625 dividend. The ex-dividend date of this dividend was Friday, September 28th. This represents a $2.50 annualized dividend and a dividend yield of 2.37%. This is an increase from Ingredion’s previous quarterly dividend of $0.60. Ingredion’s payout ratio is currently 32.47%.
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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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