First National Bank of Omaha increased its stake in shares of Ingredion Inc (NYSE:INGR) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,570 shares of the company’s stock after buying an additional 558 shares during the quarter. First National Bank of Omaha’s holdings in Ingredion were worth $4,413,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC purchased a new position in shares of Ingredion during the fourth quarter worth about $114,000. Toronto Dominion Bank lifted its position in Ingredion by 10.6% in the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after purchasing an additional 91 shares during the period. Meeder Asset Management Inc. lifted its position in Ingredion by 146.4% in the fourth quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock valued at $155,000 after purchasing an additional 659 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Ingredion by 66.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,249 shares of the company’s stock valued at $174,000 after purchasing an additional 500 shares during the period. Finally, WFG Advisors LP lifted its position in Ingredion by 0.4% in the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after purchasing an additional 6 shares during the period. 85.99% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Martin Sonntag sold 16,602 shares of Ingredion stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $135.01, for a total transaction of $2,241,436.02. Following the completion of the sale, the senior vice president now directly owns 9,875 shares in the company, valued at approximately $1,333,223.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jorgen Kokke sold 20,674 shares of Ingredion stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the sale, the senior vice president now 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 quarter, insiders have sold 52,215 shares of company stock valued at $7,007,843. Insiders own 1.92% of the company’s stock.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.01). Ingredion had a net margin of 8.63% and a return on equity of 20.42%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. Ingredion’s revenue was up 24.2% on a year-over-year basis. sell-side analysts anticipate that Ingredion Inc will post 8.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.60 per share. The ex-dividend date was Friday, December 29th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.83%. Ingredion’s payout ratio is 33.95%.
A number of equities research analysts recently commented on the stock. Credit Suisse Group set a $156.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research report on Wednesday, January 24th. BidaskClub upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Jefferies Group 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $146.00.
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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