Victory Capital Management Inc. grew its stake in shares of Ingredion Incorporated (NYSE:INGR) by 87.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396,952 shares of the company’s stock after acquiring an additional 651,035 shares during the period. Victory Capital Management Inc. owned about 1.95% of Ingredion worth $168,528,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BKD Wealth Advisors LLC grew its holdings in Ingredion by 6.1% during the 2nd quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock worth $293,000 after acquiring an additional 141 shares in the last quarter. BB&T Corp grew its holdings in Ingredion by 9.2% during the 3rd quarter. BB&T Corp now owns 45,396 shares of the company’s stock worth $5,476,000 after acquiring an additional 3,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Ingredion by 2.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,175 shares of the company’s stock worth $25,174,000 after acquiring an additional 5,707 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Ingredion by 6.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 149,884 shares of the company’s stock worth $17,868,000 after acquiring an additional 8,720 shares in the last quarter. Finally, Tobam acquired a new position in Ingredion during the 2nd quarter worth $938,000. 83.31% of the stock is owned by institutional investors.
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In other Ingredion news, VP James P. Zallie sold 21,862 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total value of $2,733,624.48. Following the sale, the vice president now owns 29,306 shares of the company’s stock, valued at approximately $3,664,422.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Zallie sold 27,972 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the completion of the sale, the vice president now directly owns 29,429 shares in the company, valued at approximately $3,690,102.31. The disclosure for this sale can be found here. Insiders sold a total of 52,882 shares of company stock worth $6,622,034 in the last three months. Insiders own 1.92% of the company’s stock.
Ingredion Incorporated (NYSE:INGR) opened at 127.20 on Wednesday. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $137.62. The stock has a 50 day moving average of $123.16 and a 200-day moving average of $120.90. The company has a market capitalization of $9.12 billion, a P/E ratio of 19.13 and a beta of 0.59.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.17. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.52 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 EPS. On average, equities analysts forecast that Ingredion Incorporated will post $7.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.50. Ingredion’s payout ratio is 36.09%.
INGR has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a report on Friday, August 4th. Jefferies Group LLC set a $145.00 price objective on shares of Ingredion and gave the stock a “buy” rating in a report on Sunday. BMO Capital Markets reissued a “hold” rating and set a $125.00 price objective on shares of Ingredion in a report on Friday, September 29th. Finally, BidaskClub raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $140.00.
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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