Parametric Portfolio Associates LLC Acquires 32,597 Shares of Ingredion Inc (INGR)

Parametric Portfolio Associates LLC boosted its holdings in shares of Ingredion Inc (NYSE:INGR) by 10.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 354,442 shares of the company’s stock after buying an additional 32,597 shares during the quarter. Parametric Portfolio Associates LLC owned 0.49% of Ingredion worth $42,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INGR. Schwab Charles Investment Management Inc. raised its position in Ingredion by 39.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 414,111 shares of the company’s stock worth $49,367,000 after buying an additional 117,591 shares during the last quarter. First Mercantile Trust Co. increased its holdings in shares of Ingredion by 19.3% during the 2nd quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock valued at $171,000 after purchasing an additional 232 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Ingredion by 1.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 108,045 shares of the company’s stock valued at $12,880,000 after purchasing an additional 1,310 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Ingredion by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 341,721 shares of the company’s stock valued at $40,735,000 after purchasing an additional 11,733 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Ingredion by 1.5% during the 2nd quarter. Comerica Bank now owns 46,057 shares of the company’s stock valued at $5,611,000 after purchasing an additional 688 shares in the last quarter. 83.39% of the stock is owned by institutional investors.

In related news, SVP Jorgen Kokke sold 20,674 shares of Ingredion stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the sale, the senior vice president now owns 23,119 shares of the company’s stock, valued at approximately $3,074,827. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.92% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on INGR shares. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Wednesday, November 8th. BidaskClub lowered shares of Ingredion from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Jefferies Group set a $145.00 target price on shares of Ingredion and gave the company a “buy” rating in a report on Sunday, October 29th. Credit Suisse Group reaffirmed an “outperform” rating and set a $145.00 target price (up from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Finally, Stephens raised shares of Ingredion from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $140.00.

Ingredion Inc (INGR) opened at $141.02 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41. The firm has a market cap of $10,084.82, a P/E ratio of 18.34, a PEG ratio of 1.65 and a beta of 0.72. Ingredion Inc has a 1-year low of $113.07 and a 1-year high of $142.64.

Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.17. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company earned $1.96 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. sell-side analysts anticipate that Ingredion Inc will post 7.71 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.40 dividend on an annualized basis and a yield of 1.70%. Ingredion’s dividend payout ratio is currently 34.38%.

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Ingredion 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.

Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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