Armbruster Capital Management Inc. maintained its stake in Ingredion Inc. (NYSE:INGR) during the second quarter, Holdings Channel reports. The firm owned 1,084 shares of the company’s stock at the end of the second quarter. Armbruster Capital Management Inc.’s holdings in Ingredion were worth $140,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Aperio Group LLC raised its stake in shares of Ingredion by 47.0% in the first quarter. Aperio Group LLC now owns 20,669 shares of the company’s stock valued at $2,207,000 after buying an additional 6,610 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Ingredion by 13.1% in the first quarter. Teachers Advisors Inc. now owns 154,952 shares of the company’s stock valued at $16,547,000 after buying an additional 18,001 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Ingredion by 66.7% in the first quarter. BlackRock Group LTD now owns 127,200 shares of the company’s stock valued at $13,583,000 after buying an additional 50,908 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 valued at $225,491,000 after buying an additional 45,635 shares in the last quarter. Finally, Advisor Partners LLC acquired a new stake in shares of Ingredion during the first quarter valued at about $201,000. 86.61% of the stock is owned by institutional investors and hedge funds.
Shares of Ingredion Inc. (NYSE:INGR) traded down 0.05% on Friday, reaching $133.48. The company’s stock had a trading volume of 286,882 shares. The company’s 50-day moving average is $133.61 and its 200 day moving average is $125.00. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 21.35 and a beta of 1.00. Ingredion Inc. has a 12-month low of $84.57 and a 12-month high of $140.00.
Ingredion (NYSE:INGR) last released its earnings results on Thursday, July 28th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. Ingredion had a return on equity of 21.01% and a net margin of 7.94%. The company earned $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $1.53 earnings per share. Equities analysts anticipate that Ingredion Inc. will post $6.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.50%. This is an increase from Ingredion’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, September 29th. Ingredion’s payout ratio is 32.21%.
INGR has been the subject of several research analyst reports. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and set a $147.00 target price (up from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Citigroup Inc. raised their target price on Ingredion from $140.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Societe Generale initiated coverage on Ingredion in a research report on Wednesday, September 7th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $124.33.
In other news, CEO Ilene S. Gordon sold 70,492 shares of the company’s 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 directly owns 188,430 shares of the company’s stock, valued at $25,473,851.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jack C. Fortnum sold 34,800 shares of the company’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 $19,557,945.26. The disclosure for this sale can be found here. 1.70% of the stock is owned by company 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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