Retirement Systems of Alabama increased its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 46.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,289 shares of the company’s stock after buying an additional 42,881 shares during the period. Retirement Systems of Alabama owned 0.19% of Ingredion worth $16,321,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of INGR. National Pension Service increased its stake in Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock valued at $105,000 after purchasing an additional 466 shares in the last quarter. Toronto Dominion Bank increased its stake in Ingredion by 10.6% in the second quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after purchasing an additional 91 shares in the last quarter. WFG Advisors LP increased its stake in Ingredion by 0.4% in the second quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock valued at $164,000 after purchasing an additional 6 shares in the last quarter. First Mercantile Trust Co. increased its stake in Ingredion by 19.3% in the second 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. Finally, Penserra Capital Management LLC increased its stake in Ingredion by 17.2% in the second quarter. Penserra Capital Management LLC now owns 1,456 shares of the company’s stock valued at $173,000 after purchasing an additional 214 shares in the last quarter. 84.59% of the stock is owned by institutional investors and hedge funds.
INGR has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC set a $145.00 target price on shares of Ingredion and gave the company a “buy” rating in a research note on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.17. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 earnings per share. sell-side analysts expect that Ingredion Incorporated will post 7.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, September 29th. This is a boost from Ingredion’s previous quarterly dividend of $0.50. Ingredion’s dividend payout ratio is 34.38%.
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In related news, VP James P. Zallie sold 21,862 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the transaction, the vice president now owns 29,306 shares in the company, valued at $3,664,422.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James P. Zallie sold 27,972 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the transaction, the vice president now owns 29,429 shares of the company’s stock, valued at approximately $3,690,102.31. The disclosure for this sale can be found here. Insiders sold 52,882 shares of company stock valued at $6,622,034 in the last quarter. Corporate insiders own 1.92% of the company’s stock.
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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