9,204 Shares in Ingredion Incorporated $INGR Bought by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new position in shares of Ingredion Incorporated (NYSE:INGR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,204 shares of the company’s stock, valued at approximately $1,037,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ingredion by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 7,487,354 shares of the company’s stock worth $825,556,000 after buying an additional 208,606 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Ingredion by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,115,136 shares of the company’s stock valued at $350,952,000 after acquiring an additional 175,600 shares in the last quarter. First Trust Advisors LP raised its position in Ingredion by 53.1% during the first quarter. First Trust Advisors LP now owns 3,054,149 shares of the company’s stock worth $344,080,000 after acquiring an additional 1,059,324 shares during the last quarter. AQR Capital Management LLC raised its position in Ingredion by 53.3% during the fourth quarter. AQR Capital Management LLC now owns 1,826,018 shares of the company’s stock worth $201,337,000 after acquiring an additional 634,900 shares during the last quarter. Finally, Snyder Capital Management L P lifted its holdings in shares of Ingredion by 4.4% in the fourth quarter. Snyder Capital Management L P now owns 1,381,775 shares of the company’s stock valued at $152,355,000 after purchasing an additional 57,928 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Wall Street Analyst Weigh In

INGR has been the topic of several research reports. Oppenheimer lowered shares of Ingredion from an “outperform” rating to a “market perform” rating in a research report on Monday, June 8th. Benchmark reaffirmed a “buy” rating on shares of Ingredion in a research note on Tuesday, June 9th. UBS Group reiterated a “neutral” rating and set a $114.00 target price on shares of Ingredion in a report on Thursday, May 7th. Barclays dropped their price target on Ingredion from $128.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut Ingredion from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.43.

Ingredion Stock Performance

Shares of INGR stock opened at $100.34 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.83 and a current ratio of 2.76. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.84 and a beta of 0.62. Ingredion Incorporated has a one year low of $94.44 and a one year high of $130.48. The company has a 50 day moving average price of $99.93 and a 200 day moving average price of $108.39.

Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.10). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.79 billion. Ingredion had a net margin of 9.36% and a return on equity of 15.86%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.97 EPS. Sell-side analysts anticipate that Ingredion Incorporated will post 10.81 EPS for the current year.

Ingredion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Wednesday, July 1st were issued a $0.82 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.3%. Ingredion’s dividend payout ratio (DPR) is presently 31.60%.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.