Ritholtz Wealth Management grew its position in shares of Ingredion Incorporated (NYSE:INGR - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,005 shares of the company's stock after buying an additional 2,369 shares during the quarter. Ritholtz Wealth Management's holdings in Ingredion were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Ingredion in the fourth quarter valued at approximately $96,012,000. Assetmark Inc. raised its holdings in shares of Ingredion by 38,341.7% during the 4th quarter. Assetmark Inc. now owns 509,352 shares of the company's stock valued at $70,067,000 after purchasing an additional 508,027 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Ingredion by 327.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock valued at $73,101,000 after purchasing an additional 407,027 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Ingredion by 93.2% in the 4th quarter. Prudential Financial Inc. now owns 652,734 shares of the company's stock valued at $89,790,000 after purchasing an additional 314,912 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Ingredion by 536.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock worth $49,680,000 after purchasing an additional 304,421 shares in the last quarter. Institutional investors own 85.27% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on INGR. UBS Group set a $155.00 price target on Ingredion in a research report on Tuesday, April 22nd. Oppenheimer cut their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ingredion presently has an average rating of "Moderate Buy" and a consensus price target of $152.20.
Check Out Our Latest Analysis on INGR
Ingredion Stock Performance
Shares of NYSE INGR traded down $0.62 during trading hours on Thursday, hitting $136.90. 408,479 shares of the company's stock were exchanged, compared to its average volume of 475,308. The company's 50-day moving average price is $135.35 and its 200-day moving average price is $134.65. Ingredion Incorporated has a 1-year low of $111.54 and a 1-year high of $155.44. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.85 and a quick ratio of 1.86.
Ingredion (NYSE:INGR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.53. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The company's quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 earnings per share. On average, sell-side analysts expect that Ingredion Incorporated will post 11.14 earnings per share for the current fiscal year.
Ingredion Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 1st will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's dividend payout ratio (DPR) is presently 33.76%.
Insider Buying and Selling at Ingredion
In related news, SVP Larry Fernandes sold 2,400 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president now directly owns 31,996 shares in the company, valued at $4,345,696.72. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.30% of the company's stock.
Ingredion Company Profile
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Free Report)
Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.
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