ING Groep NV purchased a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,303 shares of the company’s stock, valued at approximately $1,109,000.
Several other hedge funds have also added to or reduced their stakes in INGR. BlackRock Inc. raised 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 during the period. Wellington Management Group LLP raised 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 during the period. PGGM Investments purchased a new position in shares of Ingredion during the second quarter valued at approximately $31,600,000. Schroder Investment Management Group purchased a new position in shares of Ingredion during the first quarter valued at approximately $23,602,000. Finally, KAMES CAPITAL plc raised its position in 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 during the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion Incorporated (INGR) traded up 0.37% on Friday, hitting $122.72. The stock had a trading volume of 281,712 shares. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $140.00. The company has a 50-day moving average price of $120.07 and a 200 day moving average price of $120.06. The firm has a market cap of $8.80 billion, a PE ratio of 18.46 and a beta of 0.60.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $1.53 earnings per share. Ingredion’s revenue was up .1% compared to the same quarter last year. Equities analysts forecast that Ingredion Incorporated will post $7.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were given a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is currently 30.08%.
A number of brokerages have recently weighed in on INGR. Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a research report on Wednesday, April 26th. 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 target price for the company in a research note on Friday, August 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research note on Tuesday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Ingredion presently has a consensus rating of “Hold” and a consensus 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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