Ensign Peak Advisors Inc raised its stake in Ingredion Incorporated (NYSE:INGR) by 4.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 69,410 shares of the company’s stock after acquiring an additional 3,020 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Ingredion were worth $6,282,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Deprince Race & Zollo Inc. bought a new stake in Ingredion in the first quarter valued at $16,713,000. Polaris Capital Management LLC increased its position in shares of Ingredion by 0.9% during the second quarter. Polaris Capital Management LLC now owns 534,700 shares of the company’s stock worth $48,390,000 after acquiring an additional 5,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ingredion by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 79,118 shares of the company’s stock worth $7,160,000 after acquiring an additional 4,073 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Ingredion by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,000,254 shares of the company’s stock worth $90,523,000 after acquiring an additional 13,779 shares in the last quarter. Finally, Loews Corp grew its position in Ingredion by 6.9% in the 1st quarter. Loews Corp now owns 155,000 shares of the company’s stock worth $13,938,000 after purchasing an additional 10,000 shares in the last quarter. 84.87% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. TheStreet raised shares of Ingredion from a “c+” rating to a “b” rating in a research report on Tuesday, August 3rd. Zacks Investment Research downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Tuesday, October 5th.
Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 3rd. The company reported $2.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.46. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Ingredion had a net margin of 2.15% and a return on equity of 17.89%. The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, sell-side analysts anticipate that Ingredion Incorporated will post 6.6 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 25th. Shareholders of record on Monday, October 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.75%. This is a boost from Ingredion’s previous quarterly dividend of $0.64. The ex-dividend date is Friday, October 1st. Ingredion’s payout ratio is presently 41.73%.
Ingredion Company Profile
Ingredion, Inc manufactures and sells sweetener, starches, nutrition ingredients, and biomaterial solutions derived from the wet milling and processing of corn and other starch based materials. Its activities include turning corn, tapioca, potatoes and other vegetables and fruits into value added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, and other industries.
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