World Asset Management Inc lifted its holdings in Ingredion Inc (NYSE:INGR) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,543 shares of the company’s stock after purchasing an additional 153 shares during the period. World Asset Management Inc’s holdings in Ingredion were worth $375,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in INGR. LSV Asset Management increased its position in shares of Ingredion by 1.5% in the first quarter. LSV Asset Management now owns 2,514,033 shares of the company’s stock worth $238,053,000 after acquiring an additional 37,700 shares in the last quarter. FMR LLC increased its position in shares of Ingredion by 1.2% in the first quarter. FMR LLC now owns 2,044,501 shares of the company’s stock worth $193,594,000 after acquiring an additional 23,558 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 worth $123,876,000 after acquiring an additional 265,248 shares in the last quarter. AJO LP increased its position in shares of Ingredion by 18.4% in the first quarter. AJO LP now owns 1,040,979 shares of the company’s stock worth $98,570,000 after acquiring an additional 162,133 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Ingredion by 1.0% in the first quarter. Principal Financial Group Inc. now owns 889,284 shares of the company’s stock worth $84,206,000 after acquiring an additional 8,389 shares in the last quarter. 89.50% of the stock is currently owned by institutional investors.
INGR traded down $1.14 on Monday, reaching $77.39. 4,864 shares of the company traded hands, compared to its average volume of 677,329. The business has a 50 day moving average price of $81.35. Ingredion Inc has a 52-week low of $75.67 and a 52-week high of $107.52. The stock has a market cap of $5.24 billion, a P/E ratio of 11.14 and a beta of 0.85. The company has a current ratio of 2.48, a quick ratio of 1.45 and a debt-to-equity ratio of 0.79.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.66 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Ingredion Inc will post 6.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, June 28th. Ingredion’s dividend payout ratio (DPR) is presently 36.13%.
INGR has been the topic of a number of research analyst reports. 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 raised shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. Finally, TheStreet downgraded shares of Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $103.67.
In other Ingredion news, CFO James D. Gray bought 1,000 shares of Ingredion stock in a transaction on Friday, May 24th. The stock was purchased at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the completion of the purchase, the chief financial officer now directly owns 15,222 shares of the company’s stock, valued at $1,192,948.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by insiders.
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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