Ingredion Inc (INGR) Stake Lessened by QS Investors LLC
QS Investors LLC lowered its position in shares of Ingredion Inc (NYSE:INGR) by 40.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,509 shares of the company’s stock after selling 3,007 shares during the quarter. QS Investors LLC’s holdings in Ingredion were worth $538,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in Ingredion by 108.9% in the 2nd quarter. National Pension Service now owns 894 shares of the company’s stock valued at $105,000 after buying an additional 466 shares during the period. Global X Management Co. LLC increased its stake in Ingredion by 30.0% in the 1st quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock valued at $160,000 after buying an additional 306 shares during the period. First Mercantile Trust Co. increased its stake in Ingredion by 19.3% in the 2nd quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock valued at $171,000 after buying an additional 232 shares during the period. Penserra Capital Management LLC increased its stake in Ingredion by 17.2% in the 2nd quarter. Penserra Capital Management LLC now owns 1,456 shares of the company’s stock valued at $173,000 after buying an additional 214 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Ingredion by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,506 shares of the company’s stock valued at $180,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 83.87% of the company’s stock.
INGR has been the topic of several analyst reports. BidaskClub lowered shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. BMO Capital Markets restated a “hold” rating and set a $125.00 price target on shares of Ingredion in a research note on Tuesday, June 27th. Finally, Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $140.00.
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Shares of Ingredion Inc (NYSE:INGR) opened at 124.25 on Monday. The company has a market capitalization of $8.91 billion, a P/E ratio of 18.69 and a beta of 0.59. The company’s 50 day moving average is $122.93 and its 200 day moving average is $120.53. Ingredion Inc has a 12-month low of $113.07 and a 12-month high of $137.62.
Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.03. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a net margin of 9.13% and a return on equity of 19.82%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 earnings per share. Analysts expect that Ingredion Inc will post $7.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, October 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.93%. 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 payout ratio is presently 36.09%.
In other Ingredion news, VP James P. Zallie sold 27,972 shares of the company’s stock in a transaction on 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 transaction, the vice president now directly owns 29,429 shares in the company, valued at $3,690,102.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James P. Zallie sold 3,048 shares of the company’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. Over the last 90 days, insiders have sold 52,882 shares of company stock worth $6,622,034. 1.92% of the stock is owned by corporate insiders.
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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