MML Investors Services LLC reduced its stake in shares of Ingredion Inc (NYSE:INGR) by 25.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,687 shares of the company’s stock after selling 1,574 shares during the quarter. MML Investors Services LLC’s holdings in Ingredion were worth $428,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in INGR. Nissay Asset Management Corp Japan ADV raised its stake in shares of Ingredion by 1.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,089 shares of the company’s stock valued at $557,000 after buying an additional 110 shares in the last quarter. Creative Planning raised its stake in shares of Ingredion by 1.5% in the 4th quarter. Creative Planning now owns 7,703 shares of the company’s stock valued at $704,000 after buying an additional 114 shares in the last quarter. Benedict Financial Advisors Inc. raised its stake in shares of Ingredion by 3.3% in the 4th quarter. Benedict Financial Advisors Inc. now owns 3,992 shares of the company’s stock valued at $365,000 after buying an additional 129 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Ingredion by 9.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,430 shares of the company’s stock valued at $222,000 after buying an additional 200 shares in the last quarter. Finally, Bedel Financial Consulting Inc. raised its stake in shares of Ingredion by 23.1% in the 4th quarter. Bedel Financial Consulting Inc. now owns 1,137 shares of the company’s stock valued at $104,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.
INGR opened at $93.12 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.26. Ingredion Inc has a twelve month low of $87.02 and a twelve month high of $131.99. The stock has a market capitalization of $6.21 billion, a PE ratio of 13.48, a PEG ratio of 1.19 and a beta of 0.68.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 1st will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, March 29th. Ingredion’s payout ratio is 36.13%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Ingredion from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Vertical Group lowered shares of Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Seaport Global Securities assumed coverage on shares of Ingredion in a report on Thursday, February 21st. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $117.80.
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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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