Russell Investments Group Ltd. Sells 33,967 Shares of Ingredion Incorporated (NYSE:INGR)
Russell Investments Group Ltd. cut its stake in shares of Ingredion Incorporated (NYSE:INGR) by 24.0% during the second quarter, Holdings Channel reports. The fund owned 107,741 shares of the company’s stock after selling 33,967 shares during the period. Russell Investments Group Ltd.’s holdings in Ingredion were worth $12,844,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Ingredion by 1,655.4% in the first quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock valued at $997,686,000 after buying an additional 7,812,440 shares during the last quarter. Wellington Management Group LLP raised its position in Ingredion by 39.7% in the first quarter. Wellington Management Group LLP now owns 1,524,557 shares of the company’s stock valued at $183,602,000 after buying an additional 433,572 shares during the period. PGGM Investments bought a new position in Ingredion during the second quarter valued at about $31,600,000. Schroder Investment Management Group bought a new position in Ingredion during the first quarter valued at about $23,602,000. Finally, KAMES CAPITAL plc raised its position in Ingredion by 31.1% in the first quarter. KAMES CAPITAL plc now owns 649,116 shares of the company’s stock valued at $78,173,000 after buying an additional 153,899 shares during the period. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Ingredion Incorporated (NYSE:INGR) traded up 0.37% during trading on Friday, reaching $122.72. The company’s stock had a trading volume of 281,712 shares. The stock has a 50 day moving average price of $120.23 and a 200 day moving average price of $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 PE ratio of 18.46 and a beta of 0.60.
Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. Ingredion’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 EPS. Analysts anticipate that Ingredion Incorporated will post $7.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Wednesday, June 28th. Ingredion’s dividend payout ratio is currently 30.08%.
Several equities analysts have issued reports on INGR shares. Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research note on Wednesday, April 26th. BMO Capital Markets reiterated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research note on Tuesday, May 16th. BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average 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.
Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Incorporated (NYSE:INGR).
Receive News & Ratings for Ingredion Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.