Bartlett & Co. LLC continued to hold its position in shares of Ingredion Inc. (NYSE:INGR) during the second quarter, Holdings Channel reports. The institutional investor owned 2,276 shares of the company’s stock at the end of the second quarter. Bartlett & Co. LLC’s holdings in Ingredion were worth $295,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Ingredion during the fourth quarter worth about $63,609,000. Renaissance Technologies LLC increased its position in shares of Ingredion by 14,201.6% in the first quarter. Renaissance Technologies LLC now owns 572,064 shares of the company’s stock worth $61,091,000 after buying an additional 568,064 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Ingredion by 24.7% in the first quarter. UBS Asset Management Americas Inc. now owns 1,369,857 shares of the company’s stock worth $146,287,000 after buying an additional 271,731 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ingredion by 61.4% in the first quarter. Goldman Sachs Group Inc. now owns 692,933 shares of the company’s stock worth $73,998,000 after buying an additional 263,651 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Ingredion during the second quarter worth about $16,137,000. Institutional investors own 86.61% of the company’s stock.
Shares of Ingredion Inc. (NYSE:INGR) traded up 1.29% during trading on Thursday, hitting $131.73. 492,489 shares of the stock were exchanged. Ingredion Inc. has a 12-month low of $84.57 and a 12-month high of $140.00. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 21.07 and a beta of 1.11. The firm has a 50 day moving average of $134.29 and a 200-day moving average of $123.17.
Ingredion (NYSE:INGR) last posted 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 business had revenue of $1.46 billion for 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 period last year, the company posted $1.53 EPS. On average, analysts forecast that Ingredion Inc. will post $6.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, October 3rd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio is 28.99%.
A number of research analysts recently issued reports on INGR shares. Citigroup Inc. lifted their price target on shares of Ingredion from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, June 15th. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a research note on Thursday, September 22nd. Jefferies Group reiterated a “buy” rating and issued a $147.00 price target (up previously from $136.00) on shares of Ingredion in a research note on Friday, July 15th. Finally, Societe Generale started coverage on shares of Ingredion in a research note on Wednesday, September 7th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $124.33.
In related news, SVP Robert J. Stefansic sold 18,810 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $135.97, for a total transaction of $2,557,595.70. Following the completion of the sale, the senior vice president now owns 16,890 shares of the company’s stock, valued at approximately $2,296,533.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ilene S. Gordon sold 70,492 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $135.19, for a total transaction of $9,529,813.48. Following the sale, the chief executive officer now directly owns 188,430 shares of the company’s stock, valued at approximately $25,473,851.70. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Ingredion Company Profile
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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