Commerce Bank boosted its position in shares of Ingredion Incorporated (NYSE:INGR) by 23.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,070 shares of the company’s stock after purchasing an additional 577 shares during the period. Commerce Bank’s holdings in Ingredion were worth $370,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in INGR. BB&T Corp increased its position in Ingredion by 9.2% in the 3rd quarter. BB&T Corp now owns 45,396 shares of the company’s stock valued at $5,476,000 after acquiring an additional 3,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Ingredion by 2.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,175 shares of the company’s stock valued at $25,174,000 after acquiring an additional 5,707 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Ingredion by 6.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 149,884 shares of the company’s stock valued at $17,868,000 after acquiring an additional 8,720 shares in the last quarter. Tobam acquired a new stake in Ingredion in the 2nd quarter valued at about $938,000. Finally, Schwab Charles Investment Management Inc. increased its position in Ingredion by 39.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 414,111 shares of the company’s stock valued at $49,367,000 after acquiring an additional 117,591 shares in the last quarter. 83.77% of the stock is owned by hedge funds and other institutional investors.
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Shares of Ingredion Incorporated (NYSE INGR) opened at $134.93 on Wednesday. Ingredion Incorporated has a 1 year low of $113.07 and a 1 year high of $135.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41. The company has a market cap of $9,656.50, a P/E ratio of 17.57, a PEG ratio of 1.58 and a beta of 0.68.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.04 by $0.17. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company earned $1.96 EPS. Ingredion’s revenue was down .3% on a year-over-year basis. research analysts expect that Ingredion Incorporated will post 7.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd were given a dividend of $0.60 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, September 29th. This represents a $2.40 annualized dividend and a dividend yield of 1.78%. Ingredion’s payout ratio is currently 34.38%.
In related news, VP James P. Zallie sold 21,862 shares of the business’s stock in a transaction that occurred 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 owns 29,306 shares in the company, valued at $3,664,422.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James P. Zallie sold 27,972 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the transaction, the vice president now owns 29,429 shares of the company’s stock, valued at approximately $3,690,102.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,556 shares of company stock valued at $9,371,676. 1.92% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the stock. BidaskClub upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Jefferies Group LLC set a $145.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research cut shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Credit Suisse Group restated an “outperform” rating and issued a $145.00 price objective (up previously from $140.00) on shares of Ingredion in a research report on Thursday, November 2nd. Finally, Stephens upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $140.00.
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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