Pensionfund Sabic purchased a new stake in shares of Ingredion Inc (NYSE:INGR) during the first quarter, according to its most recent filing with the SEC. The fund purchased 11,200 shares of the company’s stock, valued at approximately $1,349,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Management Co. LLC raised its position in Ingredion by 58.0% in the third quarter. Global X Management Co. LLC now owns 771 shares of the company’s stock valued at $103,000 after buying an additional 283 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Ingredion during the fourth quarter valued at approximately $125,000. Focused Wealth Management Inc acquired a new position in Ingredion during the fourth quarter valued at approximately $125,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Ingredion during the fourth quarter valued at approximately $169,000. Finally, Stanley Laman Group Ltd. acquired a new position in Ingredion during the third quarter valued at approximately $194,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.
Ingredion Inc (NYSE:INGR) traded up 0.56% during mid-day trading on Thursday, hitting $121.13. 121,971 shares of the stock were exchanged. The company has a market cap of $8.70 billion, a P/E ratio of 18.49 and a beta of 0.73. Ingredion Inc has a one year low of $104.24 and a one year high of $140.00. The company has a 50-day moving average price of $120.42 and a 200-day moving average price of $123.98.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.04. Ingredion had a return on equity of 21.08% and a net margin of 8.33%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that Ingredion Inc will post $7.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Friday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, March 29th. Ingredion’s dividend payout ratio (DPR) is 30.77%.
Several analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a research report on Wednesday, April 12th. Zacks Investment Research downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Stephens downgraded shares of Ingredion from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a research report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $143.80.
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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