TD Asset Management Inc. Sells 25,488 Shares of Ingredion Incorporated (NYSE:INGR)
TD Asset Management Inc. reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 15.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 136,997 shares of the company’s stock after selling 25,488 shares during the period. TD Asset Management Inc.’s holdings in Ingredion were worth $16,331,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of INGR. WFG Advisors LP boosted its stake in Ingredion by 0.4% in the first quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock valued at $165,000 after buying an additional 5 shares during the period. Somerset Trust Co boosted its stake in Ingredion by 0.5% in the second quarter. Somerset Trust Co now owns 6,317 shares of the company’s stock valued at $753,000 after buying an additional 30 shares during the period. Smithfield Trust Co. boosted its stake in Ingredion by 2.1% in the second quarter. Smithfield Trust Co. now owns 1,650 shares of the company’s stock valued at $197,000 after buying an additional 34 shares during the period. Benedict Financial Advisors Inc. boosted its stake in Ingredion by 1.0% in the second quarter. Benedict Financial Advisors Inc. now owns 4,050 shares of the company’s stock valued at $494,000 after buying an additional 42 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Ingredion by 3.3% in the first quarter. Pacer Advisors Inc. now owns 1,390 shares of the company’s stock valued at $167,000 after buying an additional 44 shares during the period. 84.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Ingredion Incorporated (NYSE:INGR) opened at 122.72 on Friday. The firm has a market cap of $8.80 billion, a PE ratio of 18.46 and a beta of 0.60. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $140.00. The firm’s 50-day moving average price is $120.23 and its 200 day moving average price is $120.03.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The company had revenue of $1.46 billion during 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%. Ingredion’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 EPS. On average, equities research analysts forecast that Ingredion Incorporated will post $7.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were issued a $0.50 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 annualized dividend and a yield of 1.63%. Ingredion’s dividend payout ratio (DPR) is presently 30.08%.
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Several equities research analysts have issued reports on INGR shares. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and set a $125.00 target price on shares of Ingredion in a research note on Tuesday, May 16th. Jefferies Group LLC reissued a “buy” rating and set a $145.00 target price on shares of Ingredion in a research note on Wednesday, April 26th. Finally, Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Ingredion presently has a consensus 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.
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