Alps Advisors Inc. lowered its position in shares of Ingredion Inc. (NYSE:INGR) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 3,757 shares of the company’s stock after selling 280 shares during the period. Alps Advisors Inc.’s holdings in Ingredion were worth $486,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in INGR. Aperio Group LLC raised its stake in shares of Ingredion by 47.0% in the first quarter. Aperio Group LLC now owns 20,669 shares of the company’s stock worth $2,207,000 after buying an additional 6,610 shares during the last quarter. Virginia Retirement System acquired a new position in Ingredion during the first quarter worth approximately $2,061,000. CIBC World Markets Inc. increased its position in Ingredion by 33.5% in the first quarter. CIBC World Markets Inc. now owns 8,396 shares of the company’s stock worth $897,000 after buying an additional 2,105 shares during the period. TIAA CREF Investment Management LLC increased its position in Ingredion by 0.7% in the first quarter. TIAA CREF Investment Management LLC now owns 802,809 shares of the company’s stock worth $85,732,000 after buying an additional 5,874 shares during the period. Finally, Teachers Advisors Inc. increased its position in Ingredion by 13.1% in the first quarter. Teachers Advisors Inc. now owns 154,952 shares of the company’s stock worth $16,547,000 after buying an additional 18,001 shares during the period. Institutional investors own 86.61% of the company’s stock.
Shares of Ingredion Inc. (NYSE:INGR) traded down 1.69% on Tuesday, hitting $131.76. 553,982 shares of the stock were exchanged. The company’s 50 day moving average is $134.05 and its 200-day moving average is $123.99. Ingredion Inc. has a 52-week low of $84.57 and a 52-week high of $140.00. The stock has a market cap of $9.51 billion, a PE ratio of 21.08 and a beta of 1.00.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, July 28th. The company reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. The company earned $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $1.53 EPS. Analysts predict that Ingredion Inc. will post $6.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be given a $0.50 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. This is a boost from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio is presently 32.21%.
A number of research analysts have commented on INGR shares. Societe Generale started coverage on shares of Ingredion in a research report on Wednesday, September 7th. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $146.00 target price on the stock in a research report on Thursday, September 22nd. Citigroup Inc. raised their target price on shares of Ingredion from $140.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Jefferies Group reissued a “buy” rating and set a $147.00 target price (up previously from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Ingredion has a consensus rating of “Hold” and a consensus price target of $124.33.
In other news, SVP Robert J. Stefansic sold 18,810 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $135.97, for a total transaction of $2,557,595.70. Following the sale, the senior vice president now owns 16,890 shares of the company’s stock, valued at $2,296,533.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ilene S. Gordon sold 70,492 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $135.19, for a total transaction of $9,529,813.48. Following the sale, the chief executive officer now directly owns 188,430 shares in the company, valued at approximately $25,473,851.70. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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