Seaward Management Limited Partnership held its position in Ingredion Inc. (NYSE:INGR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Ingredion were worth $414,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pitcairn Co. bought a new position in shares of Ingredion during the second quarter worth approximately $697,000. Bank of Montreal Can bought a new position in shares of Ingredion during the second quarter worth approximately $16,137,000. Edmp Inc. bought a new position in shares of Ingredion during the second quarter worth approximately $227,000. Financial Architects Inc boosted its position in shares of Ingredion by 297.7% in the second quarter. Financial Architects Inc now owns 1,193 shares of the company’s stock worth $154,000 after buying an additional 893 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Ingredion during the second quarter worth approximately $401,000. Institutional investors and hedge funds own 86.61% of the company’s stock.
Shares of Ingredion Inc. (NYSE:INGR) traded up 0.98% during midday trading on Thursday, reaching $131.36. The company’s stock had a trading volume of 578,868 shares. The company has a market capitalization of $9.48 billion, a P/E ratio of 21.01 and a beta of 1.11. Ingredion Inc. has a one year low of $84.57 and a one year high of $140.00. The stock’s 50-day moving average is $135.02 and its 200-day moving average is $122.31.
Ingredion (NYSE:INGR) last announced its earnings results on Thursday, July 28th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $1.53 EPS. On average, equities analysts expect that Ingredion Inc. will post $6.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio is presently 28.99%.
A number of brokerages have recently commented on INGR. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $146.00 target price for the company in a report on Thursday. Societe Generale began coverage on Ingredion in a report on Wednesday, September 7th. They issued a “hold” rating for the company. Citigroup Inc. lifted their target price on Ingredion from $140.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Jefferies Group reissued a “buy” rating and set a $147.00 price target (up from $136.00) on shares of Ingredion in a research note on Friday, July 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Ingredion has an average rating of “Hold” and a consensus target price of $124.33.
In other news, VP James P. Zallie sold 16,900 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $132.00, for a total value of $2,230,800.00. Following the completion of the sale, the vice president now directly owns 48,008 shares in the company, valued at $6,337,056. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ilene S. Gordon sold 70,492 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $135.19, for a total value of $9,529,813.48. Following the completion of the sale, the chief executive officer now owns 188,430 shares of the company’s stock, valued at $25,473,851.70. 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).
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