Csenge Advisory Group Purchases New Position in Ingredion Incorporated (INGR)
Csenge Advisory Group purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,965 shares of the company’s stock, valued at approximately $237,000.
Other large investors have also recently added to or reduced their stakes in the company. BKD Wealth Advisors LLC grew its stake in Ingredion by 6.1% during the 2nd quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock worth $293,000 after buying an additional 141 shares during the last quarter. BB&T Corp grew its stake in Ingredion by 9.2% during the 3rd quarter. BB&T Corp now owns 45,396 shares of the company’s stock worth $5,476,000 after buying an additional 3,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Ingredion by 2.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 211,175 shares of the company’s stock worth $25,174,000 after buying an additional 5,707 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Ingredion by 6.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 149,884 shares of the company’s stock worth $17,868,000 after buying an additional 8,720 shares during the last quarter. Finally, Tobam purchased a new position in Ingredion during the 2nd quarter worth approximately $938,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.
In other Ingredion news, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the transaction, the vice president now directly owns 29,306 shares in the company, valued at approximately $3,664,422.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The disclosure for this sale can be found here. Insiders sold a total of 52,882 shares of company stock worth $6,622,034 over the last quarter. Company insiders own 1.92% of the company’s stock.
Ingredion Incorporated (INGR) opened at $129.99 on Friday. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $133.46. The firm has a market capitalization of $9,324.05, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.54 and a beta of 0.68. The company has a quick ratio of 1.59, a current ratio of 2.41 and a debt-to-equity ratio of 0.61.
Ingredion (NYSE:INGR) last announced its earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.17. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $1.96 EPS. The company’s revenue was down .3% on a year-over-year basis. equities research analysts predict that Ingredion Incorporated will post 7.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd were paid a $0.60 dividend. This is an increase from Ingredion’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, September 29th. Ingredion’s dividend payout ratio (DPR) is 34.38%.
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A number of research firms recently issued reports on INGR. BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Friday. Jefferies Group LLC set a $145.00 price target on Ingredion and gave the stock a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research downgraded Ingredion from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Credit Suisse Group restated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Ingredion in a research note on Thursday. Finally, BMO Capital Markets restated a “hold” rating and set a $125.00 price target on shares of Ingredion in a research note on Friday, September 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $137.50.
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.
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