Ingredion Incorporated (INGR) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board grew its position in Ingredion Incorporated (NYSE:INGR) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,151 shares of the company’s stock after acquiring an additional 3,106 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.15% of Ingredion worth $13,409,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Pension Service increased its holdings in shares of Ingredion by 108.9% in the 2nd quarter. National Pension Service now owns 894 shares of the company’s stock valued at $105,000 after acquiring an additional 466 shares during the last quarter. Toronto Dominion Bank boosted its position in Ingredion by 10.6% during the 2nd quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after acquiring an additional 91 shares during the period. WFG Advisors LP boosted its position in Ingredion by 0.4% during the 2nd quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after acquiring an additional 6 shares during the period. First Mercantile Trust Co. boosted its position in Ingredion by 19.3% during the 2nd quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock worth $171,000 after acquiring an additional 232 shares during the period. Finally, Penserra Capital Management LLC boosted its position in Ingredion by 17.2% during the 2nd quarter. Penserra Capital Management LLC now owns 1,456 shares of the company’s stock worth $173,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.
Several analysts have recently weighed in on INGR shares. BMO Capital Markets restated a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a report on Friday, September 29th. BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a report on Wednesday, September 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $140.00.
In related news, VP James P. Zallie sold 3,048 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James P. Zallie sold 21,862 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were 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 $3,664,422.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,882 shares of company stock valued at $6,622,034. 1.92% of the stock is currently owned by company insiders.
Shares of Ingredion Incorporated (NYSE INGR) opened at $129.13 on Tuesday. Ingredion Incorporated has a fifty-two week low of $113.07 and a fifty-two week high of $132.20. The company has a market capitalization of $9,364.01, a price-to-earnings ratio of 17.03, a PEG ratio of 1.54 and a beta of 0.68. 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 (NYSE:INGR) last announced its earnings results on Wednesday, November 1st. The company reported $2.21 EPS 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 business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted $1.96 earnings per share. Ingredion’s revenue was down .3% compared to the same quarter last year. sell-side analysts anticipate that Ingredion Incorporated will post 7.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.86%. This is an increase from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, September 29th. Ingredion’s dividend payout ratio is currently 34.38%.
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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