McElhenny Sheffield Capital Management LLC bought a new position in Ingredion Incorporated (NYSE:INGR – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 900 shares of the company’s stock, valued at approximately $88,000.
A number of other hedge funds also recently bought and sold shares of INGR. Acadian Asset Management LLC boosted its position in Ingredion by 1,760.0% during the first quarter. Acadian Asset Management LLC now owns 1,581 shares of the company’s stock worth $137,000 after purchasing an additional 1,496 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Ingredion by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,385 shares of the company’s stock worth $2,125,000 after purchasing an additional 2,325 shares in the last quarter. BlackRock Inc. boosted its position in Ingredion by 1.9% during the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock worth $504,608,000 after purchasing an additional 107,110 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Ingredion by 14.6% during the first quarter. Great West Life Assurance Co. Can now owns 42,242 shares of the company’s stock worth $3,791,000 after purchasing an additional 5,392 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in Ingredion by 1.2% during the first quarter. Yousif Capital Management LLC now owns 29,968 shares of the company’s stock worth $2,612,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on INGR. Stephens reissued an “overweight” rating and set a $120.00 target price on shares of Ingredion in a report on Friday. Barclays cut Ingredion from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $105.00 to $110.00 in a report on Monday, January 23rd. Credit Suisse Group increased their price target on Ingredion from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 9th. Finally, StockNews.com began coverage on Ingredion in a research note on Thursday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ingredion currently has an average rating of “Hold” and an average price target of $107.25.
Insider Activity at Ingredion
Ingredion Price Performance
INGR stock opened at $96.60 on Friday. The business has a fifty day moving average of $99.85 and a two-hundred day moving average of $93.80. The company has a quick ratio of 0.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.61. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 13.16 and a beta of 0.76. Ingredion Incorporated has a 52-week low of $78.81 and a 52-week high of $105.24.
Ingredion (NYSE:INGR – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.45 by $0.20. Ingredion had a return on equity of 15.70% and a net margin of 6.19%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, research analysts anticipate that Ingredion Incorporated will post 8.32 earnings per share for the current year.
Ingredion Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Monday, April 3rd will be issued a $0.71 dividend. The ex-dividend date is Friday, March 31st. This represents a $2.84 dividend on an annualized basis and a yield of 2.94%. Ingredion’s dividend payout ratio (DPR) is presently 38.69%.
Ingredion Company Profile
Ingredion, Inc engages in the development, production, and sale of food and beverage ingredients, primarily starches and sweeteners. The firm is involved in transforming corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums, and vegetables into value-added ingredients and biomaterials for the food, beverage, brewing, and other industries.
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