Korea Investment CORP Acquires 200 Shares of Ingredion Incorporated (NYSE:INGR)
Korea Investment CORP raised its position in Ingredion Incorporated (NYSE:INGR) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,800 shares of the company’s stock after buying an additional 200 shares during the period. Korea Investment CORP’s holdings in Ingredion were worth $4,745,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. National Pension Service raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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. Institutional investors own 84.12% of the company’s stock.
Shares of Ingredion Incorporated (INGR) opened at 122.72 on Friday. The company’s 50 day moving average is $120.23 and its 200-day moving average is $120.03. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $140.00. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 18.46 and a beta of 0.60.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.86 by $0.03. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The company’s revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $1.53 EPS. Equities analysts anticipate that Ingredion Incorporated will post $7.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. Ingredion’s payout ratio is currently 30.08%.
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A number of brokerages have issued reports on INGR. BMO Capital Markets reiterated a “hold” rating and set a $125.00 price target on shares of Ingredion in a research note on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and set a $145.00 price target on shares of Ingredion in a research note on Wednesday, June 14th. BidaskClub lowered shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research note on Friday, August 4th. 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. Ingredion has an average rating of “Hold” and a consensus target price of $140.50.
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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