Teacher Retirement System of Texas decreased its stake in shares of Ingredion Inc. (NYSE:INGR) by 42.0% during the second quarter, Holdings Channel reports. The fund owned 5,108 shares of the company’s stock after selling 3,696 shares during the period. Teacher Retirement System of Texas’ holdings in Ingredion were worth $661,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Ingredion by 6.4% in the first quarter. Geode Capital Management LLC now owns 462,739 shares of the company’s stock valued at $49,415,000 after buying an additional 27,815 shares during the period. Squarepoint Ops LLC boosted its position in Ingredion by 211.3% in the first quarter. Squarepoint Ops LLC now owns 19,367 shares of the company’s stock worth $2,068,000 after buying an additional 13,146 shares during the last quarter. Renaissance Technologies LLC boosted 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 during the last quarter. Advisor Partners LLC acquired a new position in Ingredion during the first quarter worth $201,000. Finally, State Treasurer State of Michigan boosted its position in Ingredion by 0.7% in the second quarter. State Treasurer State of Michigan now owns 28,900 shares of the company’s stock worth $3,740,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.
Shares of Ingredion Inc. (NYSE:INGR) traded up 1.01% during trading on Friday, hitting $133.06. The company’s stock had a trading volume of 515,276 shares. Ingredion Inc. has a one year low of $84.57 and a one year high of $140.00. The company has a 50-day moving average price of $134.20 and a 200-day moving average price of $123.36. The stock has a market cap of $9.60 billion, a PE ratio of 21.29 and a beta of 1.11.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. Ingredion had a return on equity of 21.01% and a net margin of 7.94%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the business earned $1.53 EPS. Equities analysts predict that Ingredion Inc. will post $6.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s payout ratio is currently 32.21%.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a report on Thursday, September 22nd. Societe Generale assumed coverage on Ingredion in a report on Wednesday, September 7th. They issued a “hold” rating for the company. Jefferies Group reaffirmed a “buy” rating and issued a $147.00 price target (up previously from $136.00) on shares of Ingredion in a report on Friday, July 15th. Finally, Citigroup Inc. upped their price target on Ingredion from $140.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $124.33.
In other Ingredion news, VP Jack C. Fortnum sold 34,800 shares of Ingredion stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $134.54, for a total value of $4,681,992.00. Following the sale, the vice president now owns 145,369 shares of the company’s stock, valued at approximately $19,557,945.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Zallie sold 16,900 shares of Ingredion stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $132.00, for a total transaction of $2,230,800.00. Following the sale, the vice president now owns 48,008 shares of the company’s stock, valued at $6,337,056. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Ingredion Company Profile
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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