ZWJ Investment Counsel Inc. increased its position in shares of Ingredion Inc (NYSE:INGR) by 16.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,245 shares of the company’s stock after purchasing an additional 31,923 shares during the period. ZWJ Investment Counsel Inc. owned 0.33% of Ingredion worth $18,251,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in INGR. Norges Bank bought a new position in shares of Ingredion in the fourth quarter valued at $58,054,000. FMR LLC increased its holdings in shares of Ingredion by 36.5% in the fourth quarter. FMR LLC now owns 2,020,943 shares of the company’s stock valued at $184,714,000 after buying an additional 540,698 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ingredion by 24.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,355,320 shares of the company’s stock valued at $123,876,000 after buying an additional 265,248 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Ingredion in the second quarter valued at $21,732,000. Finally, AJO LP increased its holdings in shares of Ingredion by 18.4% in the first quarter. AJO LP now owns 1,040,979 shares of the company’s stock valued at $98,570,000 after buying an additional 162,133 shares in the last quarter. 89.47% of the stock is currently owned by hedge funds and other institutional investors.
NYSE INGR traded down $2.33 on Friday, hitting $78.53. 611,833 shares of the stock were exchanged, compared to its average volume of 677,329. Ingredion Inc has a 52-week low of $75.67 and a 52-week high of $107.52. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.48 and a quick ratio of 1.45. The company has a market cap of $5.39 billion, a P/E ratio of 11.35 and a beta of 0.85. The business’s 50-day moving average price is $81.35.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.06. Ingredion had a net margin of 6.61% and a return on equity of 17.23%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the company posted $1.66 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities analysts forecast that Ingredion Inc will post 6.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, June 28th. Ingredion’s payout ratio is 36.13%.
In other news, CFO James D. Gray acquired 1,000 shares of the stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the transaction, the chief financial officer now owns 15,222 shares in the company, valued at approximately $1,192,948.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.56% of the company’s stock.
Several research firms have weighed in on INGR. Credit Suisse Group lowered their price objective on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. Finally, TheStreet cut shares of Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Ingredion currently has a consensus rating of “Hold” and an average price target of $103.67.
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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