Ingredion Incorporated (INGR) Position Reduced by World Asset Management Inc
World Asset Management Inc lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,859 shares of the company’s stock after selling 381 shares during the period. World Asset Management Inc’s holdings in Ingredion were worth $579,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. National Pension Service increased its position in Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after buying an additional 466 shares during the period. Assetmark Inc. increased its position in Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC increased its position in Ingredion by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock worth $149,000 after buying an additional 108 shares during the period. Global X Management Co. LLC increased its position in Ingredion by 30.0% in the first quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock worth $160,000 after buying an additional 306 shares during the period. Finally, WFG Advisors LP increased its position in Ingredion by 0.4% in the first quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock worth $165,000 after buying an additional 5 shares during the period. 84.12% of the stock is owned by institutional investors and hedge funds.
Ingredion Incorporated (INGR) opened at 122.93 on Thursday. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $140.00. The company has a market capitalization of $8.81 billion, a P/E ratio of 18.49 and a beta of 0.60. The firm’s 50-day moving average is $119.93 and its 200-day moving average is $120.04.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Ingredion’s revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Ingredion Incorporated will post $7.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, June 28th. Ingredion’s dividend payout ratio (DPR) is currently 30.08%.
A number of research analysts have commented on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research note on Wednesday, April 26th. BidaskClub downgraded shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research note on Friday, August 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $140.50.
Ingredion Company Profile
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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