Oppenheimer Asset Management Inc. boosted its position in Ingredion Inc (NYSE:INGR) by 23.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,626 shares of the company’s stock after purchasing an additional 3,725 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ingredion were worth $1,858,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in INGR. BlackRock Inc. lifted its stake in Ingredion by 4.5% in the fourth quarter. BlackRock Inc. now owns 7,702,940 shares of the company’s stock valued at $704,050,000 after acquiring an additional 334,715 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Ingredion by 10,975.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock worth $50,000 after buying an additional 4,498,125 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Ingredion by 1.9% in the fourth quarter. Victory Capital Management Inc. now owns 2,100,276 shares of the company’s stock worth $191,966,000 after buying an additional 38,616 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Ingredion by 26.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,085,995 shares of the company’s stock worth $190,659,000 after buying an additional 437,284 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Ingredion by 36.5% in the fourth quarter. FMR LLC now owns 2,020,943 shares of the company’s stock worth $184,714,000 after buying an additional 540,698 shares during the last quarter. Institutional investors own 87.56% of the company’s stock.
Several equities research analysts have issued reports on INGR shares. Seaport Global Securities started coverage on shares of Ingredion in a report on Thursday, February 21st. They issued a “buy” rating on the stock. ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Vertical Group lowered shares of Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Zacks Investment Research lowered shares of Ingredion from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Finally, TheStreet lowered shares of Ingredion from a “b-” rating to a “c+” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Ingredion has an average rating of “Hold” and a consensus price target of $118.50.
Ingredion stock traded down $0.35 during trading hours on Wednesday, reaching $81.27. 671,700 shares of the company’s stock traded hands, compared to its average volume of 536,531. The company has a current ratio of 2.41, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. Ingredion Inc has a fifty-two week low of $80.60 and a fifty-two week high of $116.39. The company has a market cap of $5.44 billion, a PE ratio of 11.74, a PEG ratio of 1.09 and a beta of 0.67.
Ingredion (NYSE:INGR) last released its earnings results on Thursday, May 2nd. The company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.12). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 earnings per share. Research analysts forecast that Ingredion Inc will post 6.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 1st will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.08%. Ingredion’s dividend payout ratio is 36.13%.
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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