Wilbanks Smith & Thomas Asset Management LLC Invests $201,000 in Ingredion Inc (INGR)
Wilbanks Smith & Thomas Asset Management LLC purchased a new position in Ingredion Inc (NYSE:INGR) in the fourth quarter, Holdings Channel reports. The firm purchased 1,436 shares of the company’s stock, valued at approximately $201,000.
Other hedge funds also recently made changes to their positions in the company. BB&T Corp grew its stake in shares of Ingredion by 9.2% in the third quarter. BB&T Corp now owns 45,396 shares of the company’s stock worth $5,476,000 after acquiring an additional 3,824 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Ingredion in the third quarter worth approximately $473,000. DekaBank Deutsche Girozentrale grew its stake in shares of Ingredion by 7.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 53,182 shares of the company’s stock worth $6,702,000 after acquiring an additional 3,831 shares during the period. Alps Advisors Inc. bought a new stake in shares of Ingredion in the third quarter worth approximately $540,000. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Ingredion by 30.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,408 shares of the company’s stock worth $411,000 after acquiring an additional 798 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.
INGR has been the subject of a number of research analyst reports. Jefferies Group set a $145.00 price target on shares of Ingredion and gave the stock a “buy” rating in a research note on Sunday, October 29th. Credit Suisse Group reiterated an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. BidaskClub upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Wednesday, November 8th. Finally, Stephens upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $146.00.
Shares of Ingredion Inc (NYSE:INGR) opened at $128.37 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 1.66 and a debt-to-equity ratio of 0.60. The stock has a market cap of $9,304.36, a P/E ratio of 18.16, a P/E/G ratio of 1.42 and a beta of 0.71. Ingredion Inc has a 12-month low of $113.42 and a 12-month high of $146.28.
Ingredion (NYSE:INGR) last announced its earnings results on Thursday, February 1st. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.01). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.43 billion. Ingredion had a net margin of 8.63% and a return on equity of 20.42%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share. equities analysts predict that Ingredion Inc will post 8.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $2.40 annualized dividend and a yield of 1.87%. Ingredion’s dividend payout ratio (DPR) is 33.95%.
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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