Cullen Frost Bankers Inc. decreased its position in Ingredion Inc (NYSE:INGR) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,972 shares of the company’s stock after selling 16,188 shares during the period. Cullen Frost Bankers Inc. owned about 0.13% of Ingredion worth $9,654,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of INGR. Point72 Hong Kong Ltd purchased a new position in Ingredion in the second quarter valued at approximately $153,000. Fuller & Thaler Asset Management Inc. lifted its stake in Ingredion by 42.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock valued at $187,000 after purchasing an additional 500 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in Ingredion in the second quarter valued at approximately $219,000. Campbell & CO Investment Adviser LLC purchased a new position in Ingredion in the second quarter valued at approximately $244,000. Finally, Global X Management Co LLC lifted its stake in Ingredion by 92.0% in the second quarter. Global X Management Co LLC now owns 2,411 shares of the company’s stock valued at $267,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 83.05% of the company’s stock.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded Ingredion from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup dropped their target price on Ingredion from $95.00 to $89.00 and set a “sell” rating on the stock in a research report on Wednesday, October 24th. ValuEngine upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Credit Suisse Group downgraded Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research report on Wednesday, July 18th. Finally, Stephens restated a “hold” rating and set a $110.00 target price on shares of Ingredion in a research report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $124.50.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. On average, analysts predict that Ingredion Inc will post 6.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, October 1st were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $2.50 annualized dividend and a dividend yield of 2.54%. This is an increase from Ingredion’s previous quarterly dividend of $0.60. Ingredion’s dividend payout ratio is currently 32.47%.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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