Dean Investment Associates LLC maintained its stake in Ingredion Incorporated (NYSE:INGR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,604 shares of the company’s stock at the end of the 2nd quarter. Dean Investment Associates LLC’s holdings in Ingredion were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in INGR. BlackRock Inc. increased its stake in shares of Ingredion by 1,655.4% in the 1st quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock valued at $997,686,000 after acquiring an additional 7,812,440 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Ingredion by 6,380.0% in the 2nd quarter. Victory Capital Management Inc. now owns 745,917 shares of the company’s stock valued at $88,921,000 after purchasing an additional 734,406 shares during the period. Schroder Investment Management Group grew its position in shares of Ingredion by 244.5% in the 2nd quarter. Schroder Investment Management Group now owns 675,062 shares of the company’s stock valued at $79,319,000 after purchasing an additional 479,087 shares during the period. Wellington Management Group LLP grew its position in shares of Ingredion by 39.7% in the 1st quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock valued at $183,602,000 after purchasing an additional 433,572 shares during the period. Finally, PGGM Investments acquired a new position in shares of Ingredion in the 2nd quarter valued at approximately $31,600,000. 84.31% of the stock is owned by institutional investors.
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Ingredion Incorporated (NYSE INGR) opened at 124.84 on Friday. The company has a 50 day moving average price of $123.36 and a 200 day moving average price of $120.31. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $137.62. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 18.78 and a beta of 0.60.
Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.03. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 earnings per share. Analysts anticipate that Ingredion Incorporated will post $7.61 earnings per share for the current fiscal year.
In other Ingredion news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $125.00, for a total value of $381,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the completion of the sale, the vice president now owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The disclosure for this sale can be found here. Insiders own 1.92% of the company’s stock.
Several brokerages recently issued reports on INGR. BMO Capital Markets reiterated a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a research report on Tuesday, June 27th. BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a research report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $141.00.
Ingredion Company Profile
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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