CENTRAL TRUST Co lowered its stake in shares of Ingredion Incorporated (NYSE:INGR) by 4.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,415 shares of the company’s stock after selling 151 shares during the period. CENTRAL TRUST Co’s holdings in Ingredion were worth $407,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in INGR. BlackRock Inc. boosted its position in shares of Ingredion by 1,655.4% in the first quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock valued at $997,686,000 after buying an additional 7,812,440 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Ingredion by 39.7% in the first quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock valued at $183,602,000 after buying an additional 433,572 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Ingredion during the first quarter valued at $23,602,000. KAMES CAPITAL plc boosted its position in shares of Ingredion by 31.1% in the first quarter. KAMES CAPITAL plc now owns 649,116 shares of the company’s stock valued at $78,173,000 after buying an additional 153,899 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Ingredion by 870.7% in the first quarter. Nordea Investment Management AB now owns 163,337 shares of the company’s stock valued at $19,671,000 after buying an additional 146,511 shares in the last quarter. 84.12% of the stock is owned by institutional investors and hedge funds.
Shares of Ingredion Incorporated (INGR) traded up 0.37% during midday trading on Friday, reaching $122.72. The company had a trading volume of 281,712 shares. The company’s 50-day moving average is $120.07 and its 200-day moving average is $120.06. The firm has a market cap of $8.80 billion, a P/E ratio of 18.46 and a beta of 0.60. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $140.00.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The company’s revenue was up .1% on a year-over-year basis. Equities research analysts expect that Ingredion Incorporated will post $7.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.63%. Ingredion’s payout ratio is 30.08%.
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A number of research firms recently weighed in on INGR. BidaskClub lowered Ingredion from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a research report on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $125.00 price target on shares of Ingredion in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 price target on shares of Ingredion in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $140.50.
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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