Ingredion Inc (NYSE:INGR) Shares Purchased by Occidental Asset Management LLC
Occidental Asset Management LLC boosted its stake in Ingredion Inc (NYSE:INGR) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,437 shares of the company’s stock after acquiring an additional 668 shares during the period. Occidental Asset Management LLC’s holdings in Ingredion were worth $877,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Texas Permanent School Fund increased its stake in Ingredion by 0.4% during the third quarter. Texas Permanent School Fund now owns 45,418 shares of the company’s stock valued at $3,712,000 after purchasing an additional 159 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Ingredion by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 33,882 shares of the company’s stock valued at $2,795,000 after purchasing an additional 170 shares during the last quarter. BB&T Securities LLC increased its stake in Ingredion by 0.7% during the third quarter. BB&T Securities LLC now owns 23,157 shares of the company’s stock valued at $1,884,000 after purchasing an additional 171 shares during the last quarter. 6 Meridian increased its stake in Ingredion by 3.1% during the fourth quarter. 6 Meridian now owns 7,237 shares of the company’s stock valued at $673,000 after purchasing an additional 217 shares during the last quarter. Finally, World Asset Management Inc increased its stake in Ingredion by 5.9% during the third quarter. World Asset Management Inc now owns 4,810 shares of the company’s stock valued at $393,000 after purchasing an additional 267 shares during the last quarter. 86.36% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the stock. TheStreet upgraded shares of Ingredion from a “c+” rating to a “b-” rating in a research note on Friday, December 27th. Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. ValuEngine upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stephens boosted their target price on shares of Ingredion from $97.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $92.33.
Ingredion stock opened at $91.86 on Thursday. The company has a 50-day simple moving average of $89.69 and a 200-day simple moving average of $82.61. The firm has a market capitalization of $6.14 billion, a P/E ratio of 13.27 and a beta of 0.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.53 and a current ratio of 2.45. Ingredion Inc has a one year low of $73.00 and a one year high of $99.91.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.73 by $0.09. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.46 billion. Ingredion had a net margin of 6.67% and a return on equity of 17.69%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 earnings per share. As a group, sell-side analysts forecast that Ingredion Inc will post 6.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Thursday, January 2nd will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.74%. The ex-dividend date is Tuesday, December 31st. Ingredion’s payout ratio is currently 36.42%.
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.
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