Ingredion Inc (NYSE:INGR) Shares Bought by Occidental Asset Management LLC
Occidental Asset Management LLC boosted its holdings in shares of Ingredion Inc (NYSE:INGR) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,437 shares of the company’s stock after buying an additional 668 shares during the quarter. Occidental Asset Management LLC’s holdings in Ingredion were worth $877,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. AE Wealth Management LLC purchased a new position in Ingredion during the 4th quarter worth $809,000. Centre Asset Management LLC acquired a new stake in shares of Ingredion in the 4th quarter worth $6,665,000. Alpha Windward LLC acquired a new stake in shares of Ingredion in the 4th quarter worth $29,000. 6 Meridian lifted its stake in shares of Ingredion by 3.1% in the 4th quarter. 6 Meridian now owns 7,237 shares of the company’s stock worth $673,000 after acquiring an additional 217 shares during the period. Finally, DNB Asset Management AS lifted its stake in shares of Ingredion by 35.4% in the 4th quarter. DNB Asset Management AS now owns 24,850 shares of the company’s stock worth $2,310,000 after acquiring an additional 6,500 shares during the period. Institutional investors own 86.36% of the company’s stock.
INGR stock opened at $91.86 on Thursday. Ingredion Inc has a one year low of $73.00 and a one year high of $99.91. The stock has a market capitalization of $6.14 billion, a PE ratio of 13.27 and a beta of 0.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.53 and a current ratio of 2.45. The company has a fifty day moving average of $89.69 and a 200-day moving average of $82.61.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Tuesday, December 31st. Ingredion’s dividend payout ratio (DPR) is 36.42%.
In related news, SVP Elizabeth Adefioye sold 2,779 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $89.31, for a total value of $248,192.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by company insiders.
Several research firms have recently commented on INGR. TheStreet upgraded shares of Ingredion from a “c+” rating to a “b-” rating in a research note on Friday, December 27th. ValuEngine upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stephens raised their target price on shares of Ingredion from $97.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Finally, Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Ingredion has a consensus rating of “Hold” and an average target price of $92.33.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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