Daiwa Securities Group Inc. purchased a new stake in Ingredion Inc. (NYSE:INGR) during the second quarter, according to its most recent filing with the SEC. The firm purchased 3,100 shares of the company’s stock, valued at approximately $401,000.
A number of other large investors also recently made changes to their positions in INGR. Renaissance Technologies LLC raised its position in Ingredion by 14,201.6% in the first quarter. Renaissance Technologies LLC now owns 572,064 shares of the company’s stock worth $61,091,000 after buying an additional 568,064 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Ingredion by 24.7% in the first quarter. UBS Asset Management Americas Inc. now owns 1,369,857 shares of the company’s stock worth $146,287,000 after buying an additional 271,731 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Ingredion by 61.4% in the first quarter. Goldman Sachs Group Inc. now owns 692,933 shares of the company’s stock worth $73,998,000 after buying an additional 263,651 shares in the last quarter. State Street Corp raised its position in Ingredion by 5.3% in the first quarter. State Street Corp now owns 2,061,115 shares of the company’s stock worth $220,111,000 after buying an additional 103,453 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Ingredion during the second quarter worth approximately $12,068,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.
Ingredion Inc. (NYSE:INGR) traded up 1.01% during mid-day trading on Friday, reaching $133.06. 515,276 shares of the company were exchanged. The stock has a market capitalization of $9.60 billion, a P/E ratio of 21.29 and a beta of 1.11. Ingredion Inc. has a 12 month low of $84.57 and a 12 month high of $140.00. The company’s 50 day moving average price is $134.20 and its 200-day moving average price is $123.36.
Ingredion (NYSE:INGR) last posted its quarterly earnings data 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 had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company earned $1.53 earnings per share. On average, equities analysts expect that Ingredion Inc. will post $6.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. This is an increase from Ingredion’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 29th. Ingredion’s dividend payout ratio is 32.21%.
INGR has been the topic of a number of recent research reports. Citigroup Inc. lifted their price objective on shares of Ingredion from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 15th. Zacks Investment Research lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Jefferies Group restated a “buy” rating and issued a $147.00 price objective (up from $136.00) on shares of Ingredion in a research note on Friday, July 15th. Finally, Societe Generale initiated coverage on shares of Ingredion in a research note on Wednesday, September 7th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $124.33.
In other news, VP James P. Zallie sold 16,900 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $132.00, for a total value of $2,230,800.00. Following the transaction, the vice president now directly owns 48,008 shares in the company, valued at approximately $6,337,056. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert J. Stefansic sold 18,810 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $135.97, for a total transaction of $2,557,595.70. Following the completion of the transaction, the senior vice president now owns 16,890 shares in the company, valued at $2,296,533.30. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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).
Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Inc. (NYSE:INGR).
Receive News & Ratings for Ingredion Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion Inc. and related companies with MarketBeat.com's FREE daily email newsletter.