Vanguard Group Inc. increased its stake in shares of Ingredion Inc. (NYSE:INGR) by 10.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,088,080 shares of the company’s stock after buying an additional 593,768 shares during the period. Vanguard Group Inc. owned about 8.43% of Ingredion worth $787,859,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. 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 shares of Ingredion by 211.3% in the first quarter. Squarepoint Ops LLC now owns 19,367 shares of the company’s stock valued at $2,068,000 after buying an additional 13,146 shares during the period. Renaissance Technologies LLC boosted its position in shares of Ingredion by 14,201.6% in the first quarter. Renaissance Technologies LLC now owns 572,064 shares of the company’s stock valued at $61,091,000 after buying an additional 568,064 shares during the period. Advisor Partners LLC bought a new position in shares of Ingredion during the first quarter valued at about $201,000. Finally, State Treasurer State of Michigan boosted its position in shares of Ingredion by 0.7% in the second quarter. State Treasurer State of Michigan now owns 28,900 shares of the company’s stock valued at $3,740,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.
Shares of Ingredion Inc. (NYSE:INGR) traded up 0.29% during midday trading on Wednesday, hitting $130.05. The stock had a trading volume of 43,227 shares. The firm has a 50 day moving average of $134.55 and a 200-day moving average of $123.05. Ingredion Inc. has a one year low of $84.57 and a one year high of $140.00. The company has a market cap of $9.39 billion, a P/E ratio of 20.80 and a beta of 1.11.
Ingredion (NYSE:INGR) last issued its 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 business earned $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business earned $1.53 EPS. On average, analysts forecast that Ingredion Inc. will post $6.81 earnings per share for the current fiscal year.
The firm 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 $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.54%. This is a boost from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio (DPR) is currently 28.99%.
INGR has been the topic of several recent analyst reports. Citigroup Inc. boosted their target price on Ingredion from $140.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Jefferies Group reiterated 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. Zacks Investment Research upgraded 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. Finally, Societe Generale initiated coverage on Ingredion in a research report on Wednesday, September 7th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $124.33.
In other Ingredion news, CEO Ilene S. Gordon sold 70,492 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 188,430 shares of the company’s stock, valued at $25,473,851.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James P. Zallie sold 16,900 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $132.00, for a total transaction of $2,230,800.00. Following the completion of the transaction, the vice president now directly owns 48,008 shares in the company, valued at approximately $6,337,056. The disclosure for this sale can be found here. 1.70% of the stock is currently 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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