Ingredion Inc. (INGR) Stake Raised by Retirement Systems of Alabama
Retirement Systems of Alabama raised its position in Ingredion Inc. (NYSE:INGR) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,860 shares of the company’s stock after buying an additional 165 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Ingredion worth $12,017,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Financial Architects Inc increased its stake in Ingredion by 297.7% in the second quarter. Financial Architects Inc now owns 1,193 shares of the company’s stock worth $154,000 after buying an additional 893 shares during the period. Citizens Financial Group Inc RI increased its stake in Ingredion by 1,399.0% in the first quarter. Citizens Financial Group Inc RI now owns 1,544 shares of the company’s stock worth $165,000 after buying an additional 1,441 shares during the period. Springbok Capital Management LLC increased its stake in Ingredion by 220.0% in the first quarter. Springbok Capital Management LLC now owns 1,600 shares of the company’s stock worth $171,000 after buying an additional 1,100 shares during the period. American National Bank purchased a new stake in Ingredion during the second quarter worth $194,000. Finally, Advisor Partners LLC purchased a new stake in Ingredion during the first quarter worth $201,000. 86.61% of the stock is owned by institutional investors and hedge funds.
Ingredion Inc. (NYSE:INGR) traded down 1.69% during mid-day trading on Tuesday, hitting $131.76. The stock had a trading volume of 553,982 shares. Ingredion Inc. has a 1-year low of $84.57 and a 1-year high of $140.00. The company has a market cap of $9.51 billion, a P/E ratio of 21.08 and a beta of 1.00. The company has a 50-day moving average price of $134.05 and a 200 day moving average price of $123.99.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by $0.07. Ingredion had a return on equity of 21.01% and a net margin of 7.94%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company posted $1.53 EPS. Equities research analysts forecast that Ingredion Inc. will post $6.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio is 32.21%.
A number of research firms have weighed in on INGR. Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Citigroup Inc. upped their target price on Ingredion from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, June 15th. Jefferies Group restated a “buy” rating and issued a $147.00 target price (up from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Finally, Societe Generale began coverage on Ingredion in a research report on Wednesday, September 7th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $124.33.
In related news, VP Jack C. Fortnum sold 34,800 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $134.54, for a total value of $4,681,992.00. Following the completion of the transaction, the vice president now owns 145,369 shares of the company’s stock, valued at approximately $19,557,945.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ilene S. Gordon sold 70,492 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $135.19, for a total transaction of $9,529,813.48. Following the completion of the transaction, the chief executive officer now directly owns 188,430 shares of the company’s stock, valued at approximately $25,473,851.70. 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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