Capital One National Association reduced its position in Ingredion Inc (NYSE:INGR) by 16.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,881 shares of the company’s stock after selling 579 shares during the period. Capital One National Association’s holdings in Ingredion were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. LSV Asset Management grew its position in shares of Ingredion by 53.4% in the fourth quarter. LSV Asset Management now owns 2,175,857 shares of the company’s stock valued at $304,184,000 after purchasing an additional 757,380 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Ingredion by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,716,234 shares of the company’s stock valued at $239,930,000 after purchasing an additional 319,282 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Ingredion by 19.0% in the third quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock valued at $146,670,000 after purchasing an additional 193,722 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Ingredion by 2.1% in the third quarter. Allianz Asset Management GmbH now owns 1,156,251 shares of the company’s stock valued at $139,491,000 after purchasing an additional 24,174 shares in the last quarter. Finally, Check Capital Management Inc. CA grew its position in shares of Ingredion by 98.7% in the third quarter. Check Capital Management Inc. CA now owns 857,289 shares of the company’s stock valued at $103,423,000 after purchasing an additional 425,835 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on INGR. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research report on Wednesday, January 24th. Credit Suisse Group set a $156.00 price target on Ingredion and gave the company a “buy” rating in a research report on Wednesday, January 10th. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 15th. BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Jefferies Group set a $145.00 price target on Ingredion and gave the company a “buy” rating in a research report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $146.00.
Ingredion Inc (NYSE INGR) opened at $129.99 on Thursday. The firm has a market capitalization of $9,225.31, a price-to-earnings ratio of 18.39, a PEG ratio of 1.41 and a beta of 0.71. Ingredion Inc has a 52-week low of $113.42 and a 52-week high of $146.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.52 and a quick ratio of 1.66.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.01). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.43 billion. Ingredion had a net margin of 8.63% and a return on equity of 20.42%. Ingredion’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 EPS. analysts anticipate that Ingredion Inc will post 8.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, December 29th. Ingredion’s dividend payout ratio is 33.95%.
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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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