Pzena Investment Management LLC bought a new stake in Ingredion Incorporated (NYSE:INGR) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,033 shares of the company’s stock, valued at approximately $366,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Gateway Investment Advisers LLC acquired a new position in shares of Ingredion during the 2nd quarter worth approximately $5,588,000. National Pension Service increased its position in shares of Ingredion by 108.9% during the 2nd quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after purchasing an additional 466 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Ingredion by 3.2% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 3,684 shares of the company’s stock worth $439,000 after purchasing an additional 114 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Ingredion by 504.4% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 11,671 shares of the company’s stock worth $1,391,000 after purchasing an additional 9,740 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Ingredion by 15.1% during the 2nd quarter. LS Investment Advisors LLC now owns 7,305 shares of the company’s stock worth $871,000 after purchasing an additional 961 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.
Ingredion Incorporated (NYSE INGR) traded up $0.28 during mid-day trading on Friday, hitting $130.30. The company had a trading volume of 360,900 shares, compared to its average volume of 334,351. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.41 and a quick ratio of 1.53. The firm has a market cap of $9,364.01, a price-to-earnings ratio of 17.03, a PEG ratio of 1.54 and a beta of 0.68. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $132.20.
Ingredion (NYSE:INGR) last posted its earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.17. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.96 EPS. research analysts predict that Ingredion Incorporated will post 7.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, October 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.84%. Ingredion’s payout ratio is presently 34.38%.
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INGR has been the topic of several recent analyst reports. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price target on shares of Ingredion in a research report on Friday, September 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Ingredion currently has an average rating of “Hold” and a consensus price target of $140.00.
In related news, VP James P. Zallie sold 27,972 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares in the company, valued at approximately $3,690,102.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James P. Zallie sold 21,862 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total value of $2,733,624.48. Following the completion of the sale, the vice president now owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The disclosure for this sale can be found here. Insiders have sold a total of 52,882 shares of company stock worth $6,622,034 over the last three months. 1.92% of the stock is owned by insiders.
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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