State of Wisconsin Investment Board raised its position in Ingredion Inc (NYSE:INGR) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,735 shares of the company’s stock after buying an additional 8,341 shares during the period. State of Wisconsin Investment Board’s holdings in Ingredion were worth $12,854,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Ingredion by 3.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,400 shares of the company’s stock worth $1,384,000 after buying an additional 300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Ingredion by 0.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 232,610 shares of the company’s stock worth $30,951,000 after buying an additional 1,126 shares during the period. Capital Fund Management S.A. acquired a new stake in Ingredion during the third quarter worth approximately $1,490,000. APG Asset Management N.V. raised its stake in Ingredion by 238.8% in the third quarter. APG Asset Management N.V. now owns 242,600 shares of the company’s stock worth $32,280,000 after buying an additional 171,000 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Ingredion by 16.2% in the third quarter. Advisors Asset Management Inc. now owns 25,739 shares of the company’s stock worth $3,425,000 after buying an additional 3,584 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.
Ingredion Inc (NYSE:INGR) traded down 0.61% during midday trading on Friday, reaching $115.56. The company had a trading volume of 702,768 shares. Ingredion Inc has a one year low of $113.07 and a one year high of $140.00. The company has a market capitalization of $8.28 billion, a PE ratio of 17.89 and a beta of 0.73. The stock’s 50 day moving average is $120.36 and its 200 day moving average is $122.20.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. Ingredion had a net margin of 8.33% and a return on equity of 21.08%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Equities research analysts forecast that Ingredion Inc will post $7.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.00 annualized dividend and a yield of 1.72%. Ingredion’s dividend payout ratio is currently 30.77%.
A number of equities research analysts recently commented on INGR shares. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Friday, January 20th. Jefferies Group LLC restated a “buy” rating and set a $145.00 price target on shares of Ingredion in a research report on Friday, February 3rd. Stephens lowered Ingredion from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 3rd. Finally, BMO Capital Markets restated a “hold” rating and set a $125.00 price target on shares of Ingredion in a research report on Wednesday, April 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $143.80.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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