Napatree Capital LLC purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,125 shares of the company's stock, valued at approximately $423,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management purchased a new stake in shares of Ingredion in the 1st quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ingredion by 653.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226 shares of the company's stock worth $31,000 after purchasing an additional 196 shares during the period. Ameriflex Group Inc. bought a new position in Ingredion in the 4th quarter worth $33,000. EverSource Wealth Advisors LLC increased its stake in Ingredion by 32.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the company's stock worth $44,000 after buying an additional 79 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Ingredion in the 4th quarter worth $55,000. Institutional investors own 85.27% of the company's stock.
Analyst Ratings Changes
INGR has been the topic of several analyst reports. Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Oppenheimer lowered their price target on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group upped their target price on Ingredion from $149.00 to $151.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $151.40.
Check Out Our Latest Stock Analysis on INGR
Ingredion Stock Performance
Shares of NYSE INGR traded down $0.79 during mid-day trading on Thursday, hitting $134.57. The stock had a trading volume of 1,232,587 shares, compared to its average volume of 538,993. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.86 and a current ratio of 2.85. The company has a 50 day moving average of $137.48 and a two-hundred day moving average of $133.75. Ingredion Incorporated has a twelve month low of $117.49 and a twelve month high of $155.44. The firm has a market cap of $8.65 billion, a PE ratio of 14.19, a PEG ratio of 1.07 and a beta of 0.72.
Ingredion (NYSE:INGR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.53. Ingredion had a return on equity of 19.75% and a net margin of 8.53%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the firm earned $2.08 EPS. The firm's revenue was down 3.7% on a year-over-year basis. Research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.
Ingredion Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 1st will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, July 1st. Ingredion's payout ratio is 33.76%.
Insiders Place Their Bets
In other Ingredion news, SVP Larry Fernandes sold 2,400 shares of the 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 sale, the senior vice president directly owned 31,996 shares of the company's stock, valued at approximately $4,345,696.72. This trade represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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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