4,175 Shares in Ingredion Incorporated (INGR) Acquired by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. bought a new stake in shares of Ingredion Incorporated (NYSE:INGR) during the second quarter, Holdings Channel reports. The institutional investor bought 4,175 shares of the company’s stock, valued at approximately $498,000.
Several other large investors also recently made changes to their positions in the stock. KAMES CAPITAL plc increased its stake in shares of Ingredion by 31.1% in the first quarter. KAMES CAPITAL plc now owns 649,116 shares of the company’s stock valued at $78,173,000 after buying an additional 153,899 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in shares of Ingredion by 17.5% in the first quarter. Penobscot Investment Management Company Inc. now owns 5,030 shares of the company’s stock valued at $606,000 after buying an additional 750 shares in the last quarter. Northpointe Capital LLC bought a new stake in shares of Ingredion during the first quarter valued at approximately $2,145,000. Sit Investment Associates Inc. increased its stake in shares of Ingredion by 287.5% in the first quarter. Sit Investment Associates Inc. now owns 4,650 shares of the company’s stock valued at $560,000 after buying an additional 3,450 shares in the last quarter. Finally, First Manhattan Co. increased its stake in shares of Ingredion by 1.0% in the first quarter. First Manhattan Co. now owns 458,512 shares of the company’s stock valued at $61,009,000 after buying an additional 4,748 shares in the last quarter. 84.48% of the stock is owned by institutional investors and hedge funds.
Shares of Ingredion Incorporated (INGR) opened at 123.74 on Wednesday. The company has a 50-day moving average price of $120.54 and a 200 day moving average price of $119.86. Ingredion Incorporated has a 52 week low of $113.07 and a 52 week high of $140.00. The stock has a market capitalization of $8.88 billion, a P/E ratio of 18.61 and a beta of 0.60.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $1.53 earnings per share. The company’s revenue was up .1% on a year-over-year basis. Analysts forecast that Ingredion Incorporated will post $7.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were paid a $0.50 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.62%. Ingredion’s payout ratio is 30.08%.
ILLEGAL ACTIVITY WARNING: This news story was reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.watchlistnews.com/4175-shares-in-ingredion-incorporated-ingr-acquired-by-candriam-luxembourg-s-c-a/1493326.html.
Several brokerages have recently commented on INGR. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Ingredion in a report on Wednesday, April 26th. BidaskClub downgraded Ingredion from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 target price on shares of Ingredion in a report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Ingredion currently has a consensus rating of “Hold” and an average price target of $140.50.
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.
Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Incorporated (NYSE:INGR).
Receive News & Ratings for Ingredion Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.