First American Bank acquired a new position in Ingredion Inc (NYSE:INGR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,500 shares of the company’s stock, valued at approximately $367,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Ingredion in the 2nd quarter valued at $153,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Ingredion by 42.2% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock valued at $187,000 after purchasing an additional 500 shares during the period. IFM Investors Pty Ltd bought a new position in Ingredion in the 2nd quarter valued at $219,000. Campbell & CO Investment Adviser LLC bought a new position in Ingredion in the 2nd quarter valued at $244,000. Finally, Global X Management Co LLC boosted its holdings in Ingredion by 92.0% in the 2nd quarter. Global X Management Co LLC now owns 2,411 shares of the company’s stock valued at $267,000 after purchasing an additional 1,155 shares during the period. 83.60% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating on shares of Ingredion in a report on Thursday, June 28th. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Vertical Group raised shares of Ingredion from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Citigroup downgraded shares of Ingredion from a “neutral” rating to a “sell” rating in a report on Friday, July 13th. Finally, ValuEngine downgraded shares of Ingredion from a “sell” rating to a “strong sell” rating in a report on Saturday, July 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $131.60.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.01. Ingredion had a net margin of 8.40% and a return on equity of 18.91%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $1.89 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that Ingredion Inc will post 7.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, October 1st will be issued a dividend of $0.625 per share. This is an increase from Ingredion’s previous quarterly dividend of $0.60. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, September 28th. Ingredion’s payout ratio is currently 32.47%.
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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