First Quadrant L P CA cut its position in Ingredion Incorporated (NYSE:INGR) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,805 shares of the company’s stock after selling 5,886 shares during the period. First Quadrant L P CA owned 0.34% of Ingredion worth $28,706,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of INGR. Oakbrook Investments LLC raised its stake in shares of Ingredion by 8.7% in the first quarter. Oakbrook Investments LLC now owns 6,250 shares of the company’s stock worth $753,000 after buying an additional 500 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Ingredion during the first quarter worth about $298,000. Louisiana State Employees Retirement System raised its stake in shares of Ingredion by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock worth $2,180,000 after buying an additional 200 shares during the last quarter. BKD Wealth Advisors LLC raised its stake in shares of Ingredion by 16.4% in the first quarter. BKD Wealth Advisors LLC now owns 2,316 shares of the company’s stock worth $279,000 after buying an additional 326 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Ingredion by 10.9% in the first quarter. Capstone Asset Management Co. now owns 8,366 shares of the company’s stock worth $1,008,000 after buying an additional 820 shares during the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion Incorporated (INGR) traded up 0.37% during trading on Friday, hitting $122.72. The stock had a trading volume of 281,712 shares. Ingredion Incorporated has a 12-month low of $113.07 and a 12-month high of $140.00. The company has a market cap of $8.80 billion, a P/E ratio of 18.46 and a beta of 0.60. The company has a 50 day moving average of $120.23 and a 200-day moving average of $120.03.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 EPS. On average, equities analysts predict that Ingredion Incorporated will post $7.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.00 annualized dividend and a yield of 1.63%. Ingredion’s dividend payout ratio (DPR) is 30.08%.
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A number of analysts have issued reports on the company. Jefferies Group LLC reissued a “buy” rating and issued a $145.00 price target on shares of Ingredion in a research note on Wednesday, April 26th. BidaskClub lowered Ingredion from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research note on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a research note on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Ingredion has a consensus rating of “Hold” and a consensus target price of $140.50.
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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