Renaissance Technologies LLC Acquires 198,100 Shares of Ingredion Incorporated (INGR)
Renaissance Technologies LLC boosted its holdings in shares of Ingredion Incorporated (NYSE:INGR) by 155.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,500 shares of the company’s stock after acquiring an additional 198,100 shares during the period. Renaissance Technologies LLC owned 0.45% of Ingredion worth $38,803,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. National Pension Service boosted its stake in Ingredion by 108.9% in the 2nd quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after purchasing an additional 466 shares in the last quarter. Global X Management Co. LLC increased its stake in Ingredion by 30.0% during the 1st quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock valued at $160,000 after purchasing an additional 306 shares in the last quarter. WFG Advisors LP increased its stake in Ingredion by 0.4% during the 1st quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock valued at $165,000 after purchasing an additional 5 shares in the last quarter. Pacer Advisors Inc. increased its stake in Ingredion by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 1,390 shares of the company’s stock valued at $167,000 after purchasing an additional 44 shares in the last quarter. Finally, First Mercantile Trust Co. increased its stake in Ingredion by 19.3% during the 2nd quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock valued at $171,000 after purchasing an additional 232 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP James P. Zallie sold 27,972 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $125.39, for a total transaction of $3,507,409.08. Following the transaction, the vice president now owns 29,429 shares in the company, valued at $3,690,102.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP James P. Zallie sold 21,862 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the transaction, the vice president now directly owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The disclosure for this sale can be found here. In the last three months, insiders sold 52,882 shares of company stock valued at $6,622,034. Corporate insiders own 1.92% of the company’s stock.
Several research analysts have recently issued reports on INGR shares. BMO Capital Markets reiterated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research note on Friday, September 29th. BidaskClub raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 16th. Jefferies Group LLC restated a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a report on Wednesday, June 14th. Finally, Zacks Investment Research lowered shares of 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $140.00.
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Shares of Ingredion Incorporated (NYSE INGR) opened at 123.05 on Wednesday. Ingredion Incorporated has a one year low of $113.07 and a one year high of $137.62. The stock’s 50 day moving average is $122.94 and its 200-day moving average is $120.39. The stock has a market cap of $8.83 billion, a P/E ratio of 18.51 and a beta of 0.59.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $1.53 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts forecast that Ingredion Incorporated will post $7.60 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.50. Ingredion’s dividend payout ratio (DPR) is currently 36.09%.
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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