Toronto Dominion Bank Raises Position in Ingredion Inc (INGR)
Toronto Dominion Bank boosted its holdings in Ingredion Inc (NYSE:INGR) by 32.8% in the first quarter, Holdings Channel reports. The institutional investor owned 12,801 shares of the company’s stock after buying an additional 3,164 shares during the period. Toronto Dominion Bank’s holdings in Ingredion were worth $1,212,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nissay Asset Management Corp Japan ADV raised its holdings in Ingredion by 1.8% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,089 shares of the company’s stock worth $557,000 after purchasing an additional 110 shares during the last quarter. Creative Planning raised its holdings in Ingredion by 1.5% during the 4th quarter. Creative Planning now owns 7,703 shares of the company’s stock worth $704,000 after purchasing an additional 114 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Ingredion by 0.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 47,236 shares of the company’s stock worth $4,317,000 after purchasing an additional 125 shares during the last quarter. Benedict Financial Advisors Inc. raised its holdings in Ingredion by 3.3% during the 4th quarter. Benedict Financial Advisors Inc. now owns 3,992 shares of the company’s stock worth $365,000 after purchasing an additional 129 shares during the last quarter. Finally, Pflug Koory LLC raised its holdings in Ingredion by 3.4% during the 1st quarter. Pflug Koory LLC now owns 4,995 shares of the company’s stock worth $473,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.
Several research analysts have issued reports on INGR shares. Seaport Global Securities assumed coverage on shares of Ingredion in a report on Thursday, February 21st. They set a “buy” rating for the company. ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. TheStreet lowered shares of Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. Finally, Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $118.50.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.12). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. On average, analysts anticipate that Ingredion Inc will post 6.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.50 annualized dividend and a dividend yield of 3.19%. Ingredion’s dividend payout ratio is currently 36.13%.
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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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