TD Asset Management Inc. cut its holdings in Ingredion Inc (NYSE:INGR) by 12.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 168,939 shares of the company’s stock after selling 24,689 shares during the quarter. TD Asset Management Inc.’s holdings in Ingredion were worth $15,997,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Ingredion by 16.5% during the 1st quarter. JPMorgan Chase & Co. now owns 229,705 shares of the company’s stock worth $21,750,000 after purchasing an additional 32,563 shares in the last quarter. LSV Asset Management raised its stake in shares of Ingredion by 1.5% during the 1st quarter. LSV Asset Management now owns 2,514,033 shares of the company’s stock worth $238,053,000 after purchasing an additional 37,700 shares in the last quarter. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Ingredion during the 1st quarter worth approximately $204,000. Raymond James & Associates raised its stake in shares of Ingredion by 8.9% during the 1st quarter. Raymond James & Associates now owns 55,430 shares of the company’s stock worth $5,249,000 after purchasing an additional 4,528 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Ingredion by 17.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,568 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,747 shares in the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.
INGR opened at $78.34 on Friday. Ingredion Inc has a 1-year low of $77.60 and a 1-year high of $116.39. The company has a current ratio of 2.41, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $5.22 billion, a P/E ratio of 11.32 and a beta of 0.67.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 1st will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, June 28th. Ingredion’s dividend payout ratio (DPR) is presently 36.13%.
A number of equities research analysts have recently issued reports on INGR shares. Seaport Global Securities started coverage on Ingredion in a research note on Thursday, February 21st. They set a “buy” rating on the stock. ValuEngine cut Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. TheStreet cut Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. Finally, Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Ingredion has a consensus rating of “Hold” and a consensus price target of $118.50.
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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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