Macquarie Group Ltd. decreased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 72.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,400 shares of the company’s stock after selling 3,621 shares during the period. Macquarie Group Ltd.’s holdings in Ingredion were worth $167,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. AHL Partners LLP boosted its position in shares of Ingredion by 27.0% during the second quarter. AHL Partners LLP now owns 57,420 shares of the company’s stock valued at $6,845,000 after buying an additional 12,207 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ingredion by 1.7% in the second quarter. Goldman Sachs Group Inc. now owns 999,894 shares of the company’s stock worth $119,197,000 after purchasing an additional 16,793 shares during the last quarter. Picton Mahoney Asset Management boosted its position in Ingredion by 248.5% in the second quarter. Picton Mahoney Asset Management now owns 56,800 shares of the company’s stock worth $6,772,000 after purchasing an additional 40,500 shares during the last quarter. HighTower Advisors LLC boosted its position in Ingredion by 6.4% in the second quarter. HighTower Advisors LLC now owns 5,387 shares of the company’s stock worth $642,000 after purchasing an additional 325 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its position in Ingredion by 49.0% in the second quarter. Balyasny Asset Management LLC now owns 13,567 shares of the company’s stock worth $1,617,000 after purchasing an additional 4,462 shares during the last quarter. 83.31% of the stock is currently owned by institutional investors.
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Several research analysts have weighed in on the company. BidaskClub raised Ingredion from a “sell” rating to a “hold” rating in a research report on Friday. Jefferies Group LLC set a $145.00 target price on Ingredion and gave the company a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Credit Suisse Group restated an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Ingredion in a research note on Thursday. Finally, BMO Capital Markets restated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research note on Friday, September 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $137.50.
Shares of Ingredion Incorporated (NYSE:INGR) opened at $129.99 on Friday. The company has a market cap of $9.27 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.53 and a beta of 0.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.41 and a quick ratio of 1.59.
Ingredion (NYSE:INGR) last announced its earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.17. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 EPS. equities analysts expect that Ingredion Incorporated will post 7.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd were paid a $0.60 dividend. This is a positive change from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Friday, September 29th. Ingredion’s dividend payout ratio is currently 34.38%.
In other news, VP James P. Zallie sold 27,972 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $125.39, for a total value of $3,507,409.08. Following the completion of the transaction, the vice president now directly owns 29,429 shares in the company, valued at approximately $3,690,102.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Zallie sold 3,048 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $125.00, for a total value of $381,000.00. The disclosure for this sale can be found here. Insiders sold a total of 52,882 shares of company stock worth $6,622,034 over the last 90 days. Corporate insiders own 1.92% of the company’s stock.
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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