Ingredion Inc. (INGR) Shares Bought by Westpac Banking Corp
Westpac Banking Corp increased its position in Ingredion Inc. (NYSE:INGR) by 119.9% during the second quarter, Holdings Channel reports. The firm owned 37,557 shares of the company’s stock after buying an additional 20,476 shares during the period. Westpac Banking Corp owned 0.05% of Ingredion worth $4,860,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Ingredion by 6.4% in the first quarter. Geode Capital Management LLC now owns 462,739 shares of the company’s stock valued at $49,415,000 after buying an additional 27,815 shares during the last quarter. Squarepoint Ops LLC increased its position in Ingredion by 211.3% in the first quarter. Squarepoint Ops LLC now owns 19,367 shares of the company’s stock valued at $2,068,000 after buying an additional 13,146 shares during the last quarter. Renaissance Technologies LLC increased its position in Ingredion by 14,201.6% in the first quarter. Renaissance Technologies LLC now owns 572,064 shares of the company’s stock valued at $61,091,000 after buying an additional 568,064 shares during the last quarter. Advisor Partners LLC acquired a new position in Ingredion during the first quarter valued at approximately $201,000. Finally, State Treasurer State of Michigan increased its position in Ingredion by 0.7% in the second quarter. State Treasurer State of Michigan now owns 28,900 shares of the company’s stock valued at $3,740,000 after buying an additional 200 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ingredion Inc. (NYSE:INGR) opened at 130.80 on Thursday. The company has a market cap of $9.44 billion, a PE ratio of 20.92 and a beta of 1.11. Ingredion Inc. has a 1-year low of $84.57 and a 1-year high of $140.00. The company has a 50 day moving average of $135.09 and a 200 day moving average of $122.25.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.65 by $0.07. The company earned $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. During the same period in the prior year, the firm posted $1.53 earnings per share. Equities analysts expect that Ingredion Inc. will post $6.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, October 3rd will be given a $0.50 dividend. This is a boost from Ingredion’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.54%. The ex-dividend date is Thursday, September 29th. Ingredion’s payout ratio is currently 28.99%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Citigroup Inc. raised their price target on Ingredion from $140.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Societe Generale assumed coverage on Ingredion in a research report on Wednesday, September 7th. They issued a “hold” rating on the stock. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $147.00 price target (up from $136.00) on shares of Ingredion in a research report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $125.50.
In other Ingredion news, CEO Ilene S. Gordon sold 70,492 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $135.19, for a total transaction of $9,529,813.48. Following the sale, the chief executive officer now directly owns 188,430 shares of the company’s stock, valued at approximately $25,473,851.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Zallie sold 16,900 shares of the business’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $132.00, for a total transaction of $2,230,800.00. Following the sale, the vice president now directly owns 48,008 shares in the company, valued at $6,337,056. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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