Barings LLC Has $4,732,000 Stake in Ingredion Incorporated (INGR)
Barings LLC continued to hold its stake in shares of Ingredion Incorporated (NYSE:INGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,295 shares of the company’s stock at the end of the second quarter. Barings LLC owned 0.05% of Ingredion worth $4,732,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. BKD Wealth Advisors LLC grew its holdings in shares of Ingredion by 6.1% during the second quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock worth $293,000 after purchasing an additional 141 shares in the last quarter. Tobam bought a new position in shares of Ingredion in the second quarter worth approximately $938,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Ingredion by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,175 shares of the company’s stock worth $25,174,000 after purchasing an additional 5,707 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Ingredion by 6.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 149,884 shares of the company’s stock worth $17,868,000 after purchasing an additional 8,720 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Ingredion by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,407,053 shares of the company’s stock worth $771,601,000 after purchasing an additional 20,051 shares during the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on INGR shares. Zacks Investment Research lowered shares of Ingredion from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub cut shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Ingredion currently has an average rating of “Hold” and a consensus target price of $140.00.
In other news, VP James P. Zallie sold 27,972 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $125.39, for a total value of $3,507,409.08. Following the sale, the vice president now directly owns 29,429 shares in the company, valued at approximately $3,690,102.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James P. Zallie sold 3,048 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was 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. Insiders sold 52,882 shares of company stock worth $6,622,034 over the last ninety days. Insiders own 1.92% of the company’s stock.
Shares of Ingredion Incorporated (NYSE INGR) traded up 0.37% during midday trading on Wednesday, reaching $123.51. The company’s stock had a trading volume of 31,589 shares. The company’s 50-day moving average price is $122.94 and its 200-day moving average price is $120.39. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $137.62. The company has a market cap of $8.86 billion, a PE ratio of 18.58 and a beta of 0.59.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. Ingredion’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $1.53 earnings per share. On average, equities analysts anticipate that Ingredion Incorporated will post $7.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.95%. This is a boost from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, September 29th. Ingredion’s payout ratio is 36.09%.
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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