M&R Capital Management Inc. lowered its holdings in shares of Ingredion Inc (NYSE:INGR) by 72.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 472 shares of the company’s stock after selling 1,250 shares during the quarter. M&R Capital Management Inc.’s holdings in Ingredion were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Ingredion during the 4th quarter valued at approximately $58,054,000. FMR LLC grew its stake in shares of Ingredion by 36.5% during the 4th quarter. FMR LLC now owns 2,020,943 shares of the company’s stock valued at $184,714,000 after acquiring an additional 540,698 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Ingredion by 24.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,355,320 shares of the company’s stock valued at $123,876,000 after acquiring an additional 265,248 shares during the period. WINTON GROUP Ltd bought a new position in shares of Ingredion during the 2nd quarter valued at approximately $21,732,000. Finally, AJO LP grew its stake in shares of Ingredion by 18.4% during the 1st quarter. AJO LP now owns 1,040,979 shares of the company’s stock valued at $98,570,000 after acquiring an additional 162,133 shares during the period. 89.47% of the stock is owned by hedge funds and other institutional investors.
INGR stock traded down $2.33 during midday trading on Friday, hitting $78.53. The company’s stock had a trading volume of 611,833 shares, compared to its average volume of 677,329. Ingredion Inc has a 12 month low of $75.67 and a 12 month 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 capitalization of $5.39 billion, a price-to-earnings ratio of 11.35 and a beta of 0.85. The business has a 50 day moving average price of $81.35.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.06. Ingredion had a return on equity of 17.23% and a net margin of 6.61%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company posted $1.66 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts expect that Ingredion Inc will post 6.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a $0.625 dividend. The ex-dividend date was Friday, June 28th. This represents a $2.50 annualized dividend and a yield of 3.18%. Ingredion’s payout ratio is 36.13%.
INGR has been the subject of a number of recent research reports. TheStreet downgraded Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, Credit Suisse Group cut their price objective on Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. One equities 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. The company has an average rating of “Hold” and an average target price of $103.67.
In other Ingredion news, CFO James D. Gray purchased 1,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the purchase, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.56% of the company’s stock.
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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