Mutual of America Capital Management LLC Has $8.26 Million Holdings in Ingredion Incorporated (INGR)
Mutual of America Capital Management LLC raised its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,261 shares of the company’s stock after acquiring an additional 1,431 shares during the quarter. Mutual of America Capital Management LLC owned about 0.10% of Ingredion worth $8,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Acrospire Investment Management LLC raised its holdings in Ingredion by 124.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,801 shares of the company’s stock valued at $215,000 after acquiring an additional 1,000 shares during the period. Thrivent Financial For Lutherans raised its holdings in Ingredion by 1.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 566,460 shares of the company’s stock valued at $67,528,000 after acquiring an additional 5,410 shares during the period. Laurion Capital Management LP bought a new stake in Ingredion during the 2nd quarter valued at $894,000. BT Investment Management Ltd bought a new stake in Ingredion during the 2nd quarter valued at $11,003,000. Finally, Amalgamated Bank raised its holdings in Ingredion by 21.4% during the 2nd quarter. Amalgamated Bank now owns 13,973 shares of the company’s stock valued at $1,666,000 after acquiring an additional 2,462 shares during the period. 83.93% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP James P. Zallie sold 21,862 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the sale, the vice president now directly owns 29,306 shares in the company, valued at approximately $3,664,422.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James P. Zallie sold 3,048 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $125.00, for a total transaction of $381,000.00. The disclosure for this sale can be found here. 1.92% of the stock is owned by company insiders.
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Ingredion Incorporated (NYSE INGR) traded down 1.35% on Tuesday, hitting $123.90. 63,664 shares of the stock were exchanged. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $137.62. The firm has a market cap of $8.89 billion, a P/E ratio of 18.63 and a beta of 0.60. The company has a 50-day moving average of $123.44 and a 200 day moving average of $120.33.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. Equities research analysts expect that Ingredion Incorporated will post $7.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.91%. This is an increase from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, September 29th. Ingredion’s dividend payout ratio (DPR) is presently 30.08%.
INGR has been the topic of a number of analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $145.00 target price on shares of Ingredion in a report on Wednesday, June 14th. BidaskClub raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and set a $125.00 target price on shares of Ingredion in a report on Tuesday, June 27th. Finally, Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $141.00.
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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