Robeco Institutional Asset Management B.V. grew its position in shares of Ingredion Inc (NYSE:INGR) by 27.6% in the first quarter, HoldingsChannel reports. The firm owned 11,704 shares of the company’s stock after buying an additional 2,532 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Ingredion were worth $1,107,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of INGR. JPMorgan Chase & Co. lifted its holdings in Ingredion by 10.3% during the third quarter. JPMorgan Chase & Co. now owns 585,769 shares of the company’s stock worth $61,481,000 after acquiring an additional 54,662 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Ingredion by 7.3% in the fourth quarter. State of Alaska Department of Revenue now owns 15,963 shares of the company’s stock valued at $1,458,000 after buying an additional 1,080 shares during the period. DNB Asset Management AS raised its stake in shares of Ingredion by 8.0% in the fourth quarter. DNB Asset Management AS now owns 11,431 shares of the company’s stock valued at $1,045,000 after buying an additional 849 shares during the period. Bell Asset Management Ltd raised its stake in shares of Ingredion by 29.1% in the fourth quarter. Bell Asset Management Ltd now owns 77,613 shares of the company’s stock valued at $7,094,000 after buying an additional 17,482 shares during the period. Finally, Lavaca Capital LLC bought a new stake in shares of Ingredion in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 87.56% of the company’s stock.
Several brokerages have recently weighed in on INGR. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. TheStreet cut Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. Seaport Global Securities began coverage on Ingredion in a research report on Thursday, February 21st. They issued a “buy” rating for the company. ValuEngine cut Ingredion from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Finally, Vertical Group cut Ingredion from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $118.50.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.12). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a net margin of 6.70% and a return on equity of 17.18%. Ingredion’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 earnings per share. As a group, equities research analysts predict that Ingredion Inc will post 6.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, June 28th. Ingredion’s dividend payout ratio (DPR) is presently 36.13%.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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