Highbridge Capital Management LLC Buys New Stake in Ingredion Inc (INGR)
Highbridge Capital Management LLC bought a new position in shares of Ingredion Inc (NYSE:INGR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,919 shares of the company’s stock, valued at approximately $473,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Ingredion by 87.3% in the third quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock valued at $168,528,000 after acquiring an additional 651,035 shares in the last quarter. LSV Asset Management raised its holdings in Ingredion by 20.2% in the second quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock valued at $155,408,000 after acquiring an additional 218,710 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Ingredion by 19.0% in the third quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock valued at $146,670,000 after acquiring an additional 193,722 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Ingredion by 2.1% in the third quarter. Allianz Asset Management GmbH now owns 1,156,251 shares of the company’s stock valued at $139,491,000 after acquiring an additional 24,174 shares in the last quarter. Finally, AJO LP raised its holdings in Ingredion by 2.8% in the second quarter. AJO LP now owns 1,052,662 shares of the company’s stock valued at $125,488,000 after acquiring an additional 28,372 shares in the last quarter. 83.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ingredion Inc (NYSE:INGR) opened at $141.12 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.61. Ingredion Inc has a 12 month low of $113.07 and a 12 month high of $142.14. The firm has a market cap of $10,141.59, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.66 and a beta of 0.72.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.40 annualized dividend and a yield of 1.70%. Ingredion’s payout ratio is 34.38%.
In other Ingredion news, SVP Jorgen Kokke sold 20,674 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the completion of the sale, the senior vice president now owns 23,119 shares in the company, valued at $3,074,827. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.92% of the stock is owned by insiders.
Several research firms recently issued reports on INGR. BMO Capital Markets reaffirmed a “hold” rating and issued a $125.00 price target on shares of Ingredion in a report on Friday, September 29th. Zacks Investment Research cut shares of Ingredion from a “buy” rating to a “hold” rating and set a $135.00 price target on the stock. in a report on Wednesday, September 27th. BidaskClub cut shares of Ingredion from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $140.00.
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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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