Dean Investment Associates LLC Grows Stake in Ingredion Inc (INGR)
Dean Investment Associates LLC lifted its holdings in Ingredion Inc (NYSE:INGR) by 4.2% during the first quarter, HoldingsChannel.com reports. The fund owned 8,934 shares of the company’s stock after buying an additional 360 shares during the quarter. Dean Investment Associates LLC’s holdings in Ingredion were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC acquired a new stake in Ingredion during the first quarter valued at $28,000. Capital Investment Advisory Services LLC acquired a new stake in Ingredion during the fourth quarter valued at $30,000. Harvest Group Wealth Management LLC acquired a new stake in Ingredion during the first quarter valued at $36,000. Private Capital Group LLC grew its position in Ingredion by 114.1% during the first quarter. Private Capital Group LLC now owns 546 shares of the company’s stock valued at $52,000 after buying an additional 291 shares during the period. Finally, Kinneret Advisory LLC acquired a new stake in Ingredion during the fourth quarter valued at $77,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.
Several analysts recently commented on the stock. Seaport Global Securities assumed coverage on shares of Ingredion in a research report on Thursday, February 21st. They set a “buy” rating on the stock. TheStreet lowered shares of Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Ingredion presently has a consensus rating of “Hold” and a consensus target price of $118.50.
Ingredion (NYSE:INGR) last announced its earnings results on Thursday, May 2nd. The company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.12). Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business earned $1.94 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts predict that Ingredion Inc will post 6.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.50 annualized dividend and a dividend yield of 3.19%. Ingredion’s dividend payout ratio (DPR) is 36.13%.
Ingredion Company Profile
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
Further Reading: Percentage Gainers
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