Unigestion Holding SA trimmed its position in Ingredion Inc (NYSE:INGR) by 52.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,647 shares of the company’s stock after selling 7,304 shares during the quarter. Unigestion Holding SA’s holdings in Ingredion were worth $543,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Captrust Financial Advisors acquired a new stake in Ingredion in the second quarter valued at about $29,000. Advisory Services Network LLC boosted its stake in Ingredion by 65.4% in the second quarter. Advisory Services Network LLC now owns 407 shares of the company’s stock valued at $33,000 after buying an additional 161 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Ingredion by 113.3% in the third quarter. Quadrant Capital Group LLC now owns 593 shares of the company’s stock valued at $46,000 after buying an additional 315 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Ingredion in the second quarter valued at about $50,000. Finally, Point72 Asset Management L.P. acquired a new stake in Ingredion in the second quarter valued at about $124,000. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Larry Fernandes sold 2,200 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $82.53, for a total transaction of $181,566.00. Following the completion of the transaction, the senior vice president now directly owns 15,172 shares in the company, valued at $1,252,145.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, October 31st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.73 by $0.09. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a return on equity of 17.69% and a net margin of 6.67%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $1.70 earnings per share. Research analysts anticipate that Ingredion Inc will post 6.55 EPS for the current fiscal year.
The business also recently disclosed a 0.62500 dividend, which was paid on Friday, October 25th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a dividend yield of 3%. Ingredion’s dividend payout ratio (DPR) is 36.42%.
Several research firms recently weighed in on INGR. ValuEngine raised Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stephens began coverage on Ingredion in a research note on Monday, October 7th. They issued an “overweight” rating and a $97.00 price objective on the stock. Zacks Investment Research raised Ingredion from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. Citigroup dropped their target price on Ingredion from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, Credit Suisse Group dropped their target price on Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $101.00.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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