Redwood Investments LLC Purchases 63,956 Shares of Ingredion Inc. (INGR)
Redwood Investments LLC boosted its position in Ingredion Inc. (NYSE:INGR) by 204.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,195 shares of the company’s stock after buying an additional 63,956 shares during the period. Redwood Investments LLC owned about 0.13% of Ingredion worth $12,319,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aperio Group LLC increased its position in shares of Ingredion by 47.0% in the first quarter. Aperio Group LLC now owns 20,669 shares of the company’s stock worth $2,207,000 after buying an additional 6,610 shares in the last quarter. Virginia Retirement System purchased a new position in shares of Ingredion during the first quarter worth about $2,061,000. CIBC World Markets Inc. increased its position in shares of Ingredion by 33.5% in the first quarter. CIBC World Markets Inc. now owns 8,396 shares of the company’s stock worth $897,000 after buying an additional 2,105 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Ingredion by 0.7% in the first quarter. TIAA CREF Investment Management LLC now owns 802,809 shares of the company’s stock worth $85,732,000 after buying an additional 5,874 shares in the last quarter. Finally, Teachers Advisors Inc. increased its position in shares of Ingredion by 13.1% in the first quarter. Teachers Advisors Inc. now owns 154,952 shares of the company’s stock worth $16,547,000 after buying an additional 18,001 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.
Shares of Ingredion Inc. (NYSE:INGR) traded up 0.72% during trading on Monday, reaching $134.02. 618,258 shares of the company’s stock traded hands. The company has a 50 day moving average of $134.20 and a 200-day moving average of $123.36. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 21.44 and a beta of 1.00. Ingredion Inc. has a 1-year low of $84.57 and a 1-year high of $140.00.
Ingredion (NYSE:INGR) last released its earnings results on Thursday, July 28th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.07. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. During the same quarter last year, the company posted $1.53 earnings per share. Equities analysts predict that Ingredion Inc. will post $6.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.50 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, September 29th. Ingredion’s dividend payout ratio is 32.21%.
Several analysts have recently weighed in on INGR shares. Citigroup Inc. boosted their price objective on shares of Ingredion from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 15th. Zacks Investment Research downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Jefferies Group restated a “buy” rating and set a $147.00 price objective (up previously from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Finally, Societe Generale started coverage on shares of Ingredion in a research report on Wednesday, September 7th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $124.33.
In other news, VP James P. Zallie sold 16,900 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $132.00, for a total transaction of $2,230,800.00. Following the completion of the transaction, the vice president now directly owns 48,008 shares in the company, valued at approximately $6,337,056. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert J. Stefansic sold 18,810 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $135.97, for a total value of $2,557,595.70. Following the transaction, the senior vice president now owns 16,890 shares of the company’s stock, valued at $2,296,533.30. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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