Schroder Investment Management Group acquired a new stake in Ingredion Inc. (NYSE:INGR) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,500 shares of the company’s stock, valued at approximately $194,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INGR. ClariVest Asset Management LLC purchased a new stake in Ingredion during the second quarter valued at $135,000. Financial Architects Inc raised its stake in Ingredion by 297.7% in the second quarter. Financial Architects Inc now owns 1,193 shares of the company’s stock valued at $154,000 after buying an additional 893 shares during the period. Citizens Financial Group Inc RI raised its stake in Ingredion by 1,399.0% in the first quarter. Citizens Financial Group Inc RI now owns 1,544 shares of the company’s stock valued at $165,000 after buying an additional 1,441 shares during the period. Springbok Capital Management LLC raised its stake in Ingredion by 220.0% in the first quarter. Springbok Capital Management LLC now owns 1,600 shares of the company’s stock valued at $171,000 after buying an additional 1,100 shares during the period. Finally, Smithfield Trust Co. raised its stake in Ingredion by 320.9% in the second quarter. Smithfield Trust Co. now owns 1,448 shares of the company’s stock valued at $187,000 after buying an additional 1,104 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.
Ingredion Inc. (NYSE:INGR) traded down 0.08% during trading on Wednesday, reaching $129.57. The company had a trading volume of 135,940 shares. The stock has a 50 day moving average price of $134.55 and a 200 day moving average price of $123.05. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 20.73 and a beta of 1.11. Ingredion Inc. has a 12 month low of $84.57 and a 12 month high of $140.00.
Ingredion (NYSE:INGR) last issued its earnings results on Thursday, July 28th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. The company earned $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. Ingredion had a return on equity of 21.01% and a net margin of 7.94%. During the same quarter in the previous year, the firm earned $1.53 earnings per share. On average, equities research analysts predict that Ingredion Inc. will post $6.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, October 3rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. This is a boost from Ingredion’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 29th. Ingredion’s payout ratio is presently 28.99%.
INGR has been the topic of several research reports. Citigroup Inc. upped their target price on Ingredion from $130.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, June 15th. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and set a $147.00 price objective (up previously from $136.00) on shares of Ingredion in a research note on Friday, July 15th. Finally, Societe Generale initiated coverage on Ingredion in a research note on Wednesday, September 7th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $124.33.
In related news, VP James P. Zallie sold 16,900 shares of Ingredion stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $132.00, for a total value of $2,230,800.00. Following the transaction, the vice president now directly owns 48,008 shares in the company, valued at approximately $6,337,056. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert J. Stefansic sold 18,810 shares of Ingredion stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $135.97, for a total value of $2,557,595.70. Following the completion of the transaction, the senior vice president now owns 16,890 shares in the company, valued at $2,296,533.30. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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