Smithfield Trust Co. raised its position in Ingredion Incorporated (NYSE:INGR) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,650 shares of the company’s stock after buying an additional 34 shares during the period. Smithfield Trust Co.’s holdings in Ingredion were worth $197,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake 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 worth $997,686,000 after buying an additional 7,812,440 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 worth $183,602,000 after buying an additional 433,572 shares during the last quarter. PGGM Investments purchased a new stake in shares of Ingredion during the second quarter worth approximately $31,600,000. Schroder Investment Management Group purchased a new stake in shares of Ingredion during the first quarter worth approximately $23,602,000. Finally, KAMES CAPITAL plc boosted its stake in shares of Ingredion by 31.1% in the first quarter. KAMES CAPITAL plc now owns 649,116 shares of the company’s stock worth $78,173,000 after buying an additional 153,899 shares during the last quarter. 84.12% of the stock is owned by institutional investors.
Shares of Ingredion Incorporated (NYSE INGR) opened at 122.37 on Tuesday. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $140.00. The company has a 50-day moving average of $119.37 and a 200-day moving average of $120.10. The firm has a market cap of $8.77 billion, a PE ratio of 18.40 and a beta of 0.60.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. Ingredion’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 earnings per share. Analysts predict that Ingredion Incorporated will post $7.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, June 28th. Ingredion’s payout ratio is 30.08%.
INGR has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Wednesday, April 12th. BidaskClub cut shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research note on Wednesday, April 26th. Finally, Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $140.50.
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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