First National Bank of Omaha cut its position in Ingredion Inc (NYSE:INGR) by 94.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,541 shares of the company’s stock after selling 46,539 shares during the quarter. First National Bank of Omaha’s holdings in Ingredion were worth $208,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank lifted its position in shares of Ingredion by 3.2% during the 2nd quarter. Comerica Bank now owns 32,714 shares of the company’s stock valued at $2,627,000 after acquiring an additional 1,022 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Ingredion by 33.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,332 shares of the company’s stock valued at $4,812,000 after acquiring an additional 14,561 shares during the period. Cypress Capital Management LLC bought a new stake in shares of Ingredion during the 3rd quarter valued at $5,516,000. AGF Investments Inc. lifted its position in shares of Ingredion by 6.2% during the 2nd quarter. AGF Investments Inc. now owns 2,374 shares of the company’s stock valued at $196,000 after acquiring an additional 138 shares during the period. Finally, Virtus ETF Advisers LLC bought a new stake in shares of Ingredion during the 2nd quarter valued at $2,240,000. Institutional investors and hedge funds own 87.80% of the company’s stock.
Shares of INGR stock opened at $84.62 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.45 and a debt-to-equity ratio of 0.81. Ingredion Inc has a twelve month low of $73.00 and a twelve month high of $106.28. The company has a market cap of $5.58 billion, a P/E ratio of 12.23 and a beta of 0.81. The business has a fifty day simple moving average of $80.52 and a 200 day simple moving average of $81.06.
The firm also recently disclosed a 0.62500 dividend, which was paid on Friday, October 25th. Investors of record on Tuesday, October 1st were given a dividend of $0.63 per share. The ex-dividend date was Monday, September 30th. This represents a dividend yield of 3%. Ingredion’s dividend payout ratio is currently 36.42%.
In related news, SVP Larry Fernandes sold 2,200 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 15,172 shares in the company, valued at approximately $1,252,145.16. The sale was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is owned by corporate insiders.
INGR has been the subject of a number of recent analyst reports. Stephens initiated coverage on Ingredion in a research report on Monday, October 7th. They set an “overweight” rating and a $97.00 target price for the company. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. ValuEngine upgraded Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group cut 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. Finally, Citigroup cut 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Ingredion presently has a consensus rating of “Hold” and an average target price 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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