Rhumbline Advisers increased its position in shares of Ingredion Incorporated (NYSE:INGR) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,088 shares of the company’s stock after buying an additional 12,735 shares during the period. Rhumbline Advisers owned about 0.21% of Ingredion worth $18,589,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. WFG Advisors LP increased its stake in Ingredion by 0.4% during the 2nd quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after buying an additional 6 shares during the period. HL Financial Services LLC increased its stake in Ingredion by 0.4% during the 2nd quarter. HL Financial Services LLC now owns 2,730 shares of the company’s stock worth $325,000 after buying an additional 12 shares during the period. IndexIQ Advisors LLC increased its stake in Ingredion by 1.8% during the 2nd quarter. IndexIQ Advisors LLC now owns 1,655 shares of the company’s stock worth $197,000 after buying an additional 29 shares during the period. Linscomb & Williams Inc. increased its stake in Ingredion by 1.4% during the 2nd quarter. Linscomb & Williams Inc. now owns 2,209 shares of the company’s stock worth $263,000 after buying an additional 30 shares during the period. Finally, Smithfield Trust Co. increased its stake in Ingredion by 2.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,650 shares of the company’s stock worth $197,000 after buying an additional 34 shares during the period. 83.77% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. Stephens raised shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. BidaskClub raised shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. Finally, Jefferies Group LLC set a $145.00 price target on shares of Ingredion and gave the stock a “buy” rating in a research note on Sunday, October 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $140.00.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.17. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the business earned $1.96 EPS. sell-side analysts predict that Ingredion Incorporated will post 7.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.60 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Friday, September 29th. Ingredion’s dividend payout ratio (DPR) is currently 34.33%.
In other Ingredion news, VP James P. Zallie sold 21,862 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the transaction, the vice president now directly owns 29,306 shares of the company’s stock, valued at approximately $3,664,422.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jorgen Kokke sold 20,674 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the transaction, the senior vice president now directly owns 23,119 shares of the company’s stock, valued at $3,074,827. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,556 shares of company stock valued at $9,371,676. 1.92% of the stock is owned by company insiders.
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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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