Weybosset Research & Management LLC held its position in Ingredion Inc. (NYSE:INGR) during the second quarter, Holdings Channel reports. The institutional investor owned 24,000 shares of the company’s stock at the end of the second quarter. Ingredion comprises about 2.4% of Weybosset Research & Management LLC’s holdings, making the stock its 20th largest position. Weybosset Research & Management LLC’s holdings in Ingredion were worth $3,106,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its position in Ingredion by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,111,532 shares of the company’s stock worth $225,491,000 after buying an additional 45,635 shares during the last quarter. State Street Corp boosted its position in Ingredion by 5.3% in the first quarter. State Street Corp now owns 2,061,115 shares of the company’s stock worth $220,111,000 after buying an additional 103,453 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in 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 during the last quarter. TIAA CREF Investment Management LLC boosted its position in Ingredion by 0.7% in the first quarter. TIAA CREF Investment Management LLC now owns 802,809 shares of the company’s stock worth $85,732,000 after buying an additional 5,874 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Ingredion by 1.1% in the second quarter. Fisher Asset Management LLC now owns 764,509 shares of the company’s stock worth $101,083,000 after buying an additional 8,139 shares during the last quarter. 86.61% of the stock is owned by institutional investors.
Ingredion Inc. (NYSE:INGR) traded up 0.93% during midday trading on Wednesday, reaching $132.99. 273,643 shares of the company traded hands. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 21.27 and a beta of 1.00. The firm’s 50 day moving average price is $134.05 and its 200 day moving average price is $123.99. Ingredion Inc. has a 12 month low of $84.57 and a 12 month high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results 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 business had revenue of $1.46 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $1.53 EPS. On average, analysts expect that Ingredion Inc. will post $6.81 earnings per share for the current year.
The firm 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. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. This is an increase from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio (DPR) is currently 32.21%.
A number of equities analysts have weighed in on INGR shares. Citigroup Inc. upped their price objective on shares of Ingredion from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, June 15th. 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 report on Monday, July 18th. Jefferies Group reissued a “buy” rating and issued a $147.00 price objective (up from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Finally, Societe Generale initiated coverage on shares of Ingredion in a research report on Wednesday, September 7th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $124.33.
In related news, VP Jack C. Fortnum sold 34,800 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $134.54, for a total value of $4,681,992.00. Following the transaction, the vice president now directly owns 145,369 shares in the company, valued at approximately $19,557,945.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ilene S. Gordon sold 70,492 shares of the firm’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 completion of the transaction, the chief executive officer now owns 188,430 shares in the company, valued at $25,473,851.70. The disclosure for this sale can be found here. 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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