Monarch Partners Asset Management LLC continued to hold its stake in Ingredion Inc. (NYSE:INGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,909 shares of the company’s stock at the end of the second quarter. Monarch Partners Asset Management LLC’s holdings in Ingredion were worth $8,012,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in INGR. Geode Capital Management LLC boosted its position in Ingredion by 6.4% in the first quarter. Geode Capital Management LLC now owns 462,739 shares of the company’s stock worth $49,415,000 after buying an additional 27,815 shares during the period. Squarepoint Ops LLC boosted its position in Ingredion by 211.3% in the first quarter. Squarepoint Ops LLC now owns 19,367 shares of the company’s stock worth $2,068,000 after buying an additional 13,146 shares during the period. Renaissance Technologies LLC boosted its position in 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 during the period. Advisor Partners LLC purchased a new position in Ingredion during the first quarter worth $201,000. Finally, Teachers Advisors Inc. boosted its position in Ingredion by 13.1% in the first quarter. Teachers Advisors Inc. now owns 154,952 shares of the company’s stock worth $16,547,000 after buying an additional 18,001 shares during the period. 86.61% of the stock is currently owned by institutional investors.
Ingredion Inc. (NYSE:INGR) traded up 0.72% during mid-day trading on Monday, reaching $134.02. 618,258 shares of the company were exchanged. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 21.44 and a beta of 1.00. The stock’s 50-day moving average price is $134.15 and its 200-day moving average price is $123.69. Ingredion Inc. has a 1-year low of $84.57 and a 1-year high of $140.00.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by $0.07. The firm earned $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. During the same quarter in the previous year, the business posted $1.53 EPS. On average, equities research analysts anticipate that Ingredion Inc. will post $6.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s payout ratio is currently 32.21%.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $146.00 price objective on the stock in a research report on Thursday, September 22nd. Societe Generale started coverage on shares of Ingredion in a report on Wednesday, September 7th. They issued a “hold” rating on the stock. Citigroup Inc. upped their price target on shares of Ingredion from $140.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Jefferies Group restated a “buy” rating and issued a $147.00 price target (up from $136.00) on shares of Ingredion in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $124.33.
In other news, CEO Ilene S. Gordon sold 70,492 shares of Ingredion stock in a transaction 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 transaction, the chief executive officer now owns 188,430 shares in the company, valued at approximately $25,473,851.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 48,008 shares in the company, valued at approximately $6,337,056. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
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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