Retirement Systems of Alabama increased its stake in shares of Ingredion Inc. (NYSE:INGR) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,860 shares of the company’s stock after buying an additional 165 shares during the period. Retirement Systems of Alabama’s holdings in Ingredion were worth $12,017,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of INGR. UBS Group AG increased its position in shares of Ingredion by 133.2% in the first quarter. UBS Group AG now owns 141,027 shares of the company’s stock valued at $15,060,000 after buying an additional 80,547 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Ingredion by 10,253.3% in the first quarter. Meeder Asset Management Inc. now owns 6,212 shares of the company’s stock valued at $663,000 after buying an additional 6,152 shares during the last quarter. State Street Corp increased its position in shares of Ingredion by 5.3% in the first quarter. State Street Corp now owns 2,061,115 shares of the company’s stock valued at $220,111,000 after buying an additional 103,453 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ingredion during the first quarter valued at approximately $2,016,000. Finally, Advisor Partners LLC bought a new position in shares of Ingredion during the first quarter valued at approximately $201,000. 86.61% of the stock is owned by institutional investors and hedge funds.
Ingredion Inc. (NYSE:INGR) traded down 1.69% during midday trading on Tuesday, hitting $131.76. 553,982 shares of the stock traded hands. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 21.08 and a beta of 1.00. Ingredion Inc. has a 52 week low of $84.57 and a 52 week high of $140.00. The stock’s 50-day moving average price is $134.05 and its 200 day moving average price is $123.99.
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 the Zacks’ consensus estimate of $1.65 by $0.07. The business earned $1.46 billion during the quarter, compared to the consensus estimate 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 posted $1.53 earnings per share. On average, equities research analysts predict that Ingredion Inc. will post $6.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, October 3rd will be issued a dividend of $0.50 per share. This is a positive change from Ingredion’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, September 29th. Ingredion’s dividend payout ratio is currently 32.21%.
Several equities analysts recently commented on the stock. Societe Generale assumed coverage on shares of Ingredion in a research note on Wednesday, September 7th. They issued a “hold” rating for the company. Citigroup Inc. increased their price objective on shares of Ingredion from $140.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “strong-buy” rating and set a $153.00 price objective for the company in a research note on Monday, July 18th. Finally, Jefferies Group restated a “buy” rating and issued a $147.00 price target (up from $136.00) on shares of Ingredion in a research 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 issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $124.33.
In related news, SVP Robert J. Stefansic sold 18,810 shares of the company’s stock in a transaction 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 directly owns 16,890 shares in the company, valued at approximately $2,296,533.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ilene S. Gordon sold 70,492 shares of the company’s stock in a transaction on Monday, August 15th. The shares were 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 owns 188,430 shares of the company’s stock, valued at $25,473,851.70. The disclosure for this sale can be found here. Corporate 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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