APG Asset Management N.V. grew its position in Ingredion Inc (NYSE:INGR) by 288.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,570 shares of the company’s stock after purchasing an additional 21,957 shares during the period. APG Asset Management N.V.’s holdings in Ingredion were worth $2,233,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in INGR. Thrivent Financial for Lutherans boosted its position in Ingredion by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,445 shares of the company’s stock valued at $1,622,000 after buying an additional 120 shares during the last quarter. Eaton Vance Management lifted its stake in Ingredion by 5.0% during the 1st quarter. Eaton Vance Management now owns 2,885 shares of the company’s stock valued at $218,000 after acquiring an additional 138 shares during the period. CIBC World Markets Inc. boosted its holdings in shares of Ingredion by 0.5% in the 4th quarter. CIBC World Markets Inc. now owns 29,972 shares of the company’s stock valued at $2,786,000 after acquiring an additional 146 shares during the last quarter. Point View Wealth Management Inc. increased its stake in shares of Ingredion by 3.3% in the first quarter. Point View Wealth Management Inc. now owns 4,703 shares of the company’s stock worth $355,000 after acquiring an additional 151 shares during the period. Finally, Wintrust Investments LLC raised its holdings in shares of Ingredion by 7.9% during the first quarter. Wintrust Investments LLC now owns 2,784 shares of the company’s stock worth $210,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 85.35% of the company’s stock.
INGR has been the topic of several recent research reports. BMO Capital Markets lowered their price target on shares of Ingredion from $104.00 to $93.00 and set a “market perform” rating on the stock in a report on Wednesday, May 6th. Credit Suisse Group lowered their target price on Ingredion from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Goldman Sachs Group upgraded Ingredion from a “sell” rating to a “neutral” rating and reduced their price target for the company from $79.00 to $74.00 in a research report on Thursday, March 26th. TheStreet downgraded Ingredion from a “b” rating to a “c+” rating in a report on Wednesday, March 11th. Finally, Zacks Investment Research cut shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $92.67.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.52 by $0.07. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.44 billion. Ingredion had a net margin of 6.49% and a return on equity of 17.07%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 EPS. Equities research analysts forecast that Ingredion Inc will post 6.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. Ingredion’s dividend payout ratio (DPR) is presently 37.89%.
In other news, Director Stephan B. Tanda bought 985 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $81.04 per share, for a total transaction of $79,824.40. Following the completion of the transaction, the director now directly owns 2,318 shares in the company, valued at approximately $187,850.72. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.15% of the company’s stock.
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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