Ingredion Incorporated (INGR) Stake Boosted by Hallmark Capital Management Inc.
Hallmark Capital Management Inc. increased its position in shares of Ingredion Incorporated (NYSE:INGR) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,862 shares of the company’s stock after buying an additional 3,043 shares during the period. Ingredion makes up 2.0% of Hallmark Capital Management Inc.’s portfolio, making the stock its 25th largest position. Hallmark Capital Management Inc. owned 0.18% of Ingredion worth $15,242,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quantitative Systematic Strategies LLC acquired a new stake in shares of Ingredion during the first quarter worth approximately $298,000. Louisiana State Employees Retirement System boosted 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 in the last quarter. BKD Wealth Advisors LLC boosted 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 in the last quarter. Capstone Asset Management Co. boosted 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 in the last quarter. Finally, Highland Capital Management LLC boosted its stake in shares of Ingredion by 0.9% in the first quarter. Highland Capital Management LLC now owns 51,120 shares of the company’s stock worth $6,156,000 after buying an additional 443 shares in the last quarter. Institutional investors own 84.12% of the company’s stock.
Shares of Ingredion Incorporated (INGR) opened at 122.37 on Tuesday. The stock has a market capitalization of $8.77 billion, a PE ratio of 18.40 and a beta of 0.60. The stock has a 50 day moving average of $119.37 and a 200-day moving average of $120.10. Ingredion Incorporated has a 52 week low of $113.07 and a 52 week high of $140.00.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $1.53 EPS. The business’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that Ingredion Incorporated will post $7.63 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, June 28th. Ingredion’s dividend payout ratio is currently 30.08%.
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A number of brokerages have commented on INGR. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 target price on shares of Ingredion in a report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Ingredion in a report on Wednesday, June 14th. BidaskClub cut shares of Ingredion from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average 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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