Simon Quick Advisors LLC purchased a new stake in Ingredion Incorporated (NYSE:INGR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,914 shares of the company's stock, valued at approximately $259,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Ingredion during the 4th quarter worth approximately $96,012,000. Assetmark Inc. lifted its stake in Ingredion by 38,341.7% during the fourth quarter. Assetmark Inc. now owns 509,352 shares of the company's stock worth $70,067,000 after purchasing an additional 508,027 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Ingredion by 327.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 531,413 shares of the company's stock worth $73,101,000 after purchasing an additional 407,027 shares during the last quarter. Prudential Financial Inc. boosted its holdings 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 in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Ingredion by 536.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 361,153 shares of the company's stock valued at $49,680,000 after purchasing an additional 304,421 shares during the last quarter. Institutional investors own 85.27% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on INGR shares. Oppenheimer dropped their price objective on Ingredion from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised Ingredion from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Finally, UBS Group set a $155.00 price objective on shares of Ingredion in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ingredion currently has an average rating of "Moderate Buy" and a consensus price target of $152.20.
Check Out Our Latest Stock Analysis on INGR
Insider Activity at Ingredion
In other news, SVP Larry Fernandes sold 2,400 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $135.82, for a total transaction of $325,968.00. Following the transaction, the senior vice president now owns 31,996 shares in the company, valued at approximately $4,345,696.72. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by corporate insiders.
Ingredion Trading Down 0.4%
Shares of NYSE:INGR traded down $0.62 during mid-day trading on Thursday, reaching $136.90. 408,479 shares of the company's stock were exchanged, compared to its average volume of 475,308. The firm 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 quick ratio of 1.86 and a current ratio of 2.85. Ingredion Incorporated has a twelve month low of $111.54 and a twelve month high of $155.44. The business's fifty day moving average price is $135.35 and its 200-day moving average price is $134.65.
Ingredion (NYSE:INGR - Get Free Report) last posted its quarterly earnings data 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 for 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 firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 earnings per share. On average, research analysts predict that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.
Ingredion Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders 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 2.34%. The ex-dividend date is Tuesday, July 1st. Ingredion's dividend payout ratio (DPR) is presently 33.76%.
Ingredion 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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