US Bancorp DE Decreases Stake in Ingredion Incorporated (NYSE:INGR)
US Bancorp DE lowered its stake in Ingredion Incorporated (NYSE:INGR) by 16.7% during the second quarter, Holdings Channel reports. The institutional investor owned 7,559 shares of the company’s stock after selling 1,516 shares during the period. US Bancorp DE’s holdings in Ingredion were worth $901,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. BKD Wealth Advisors LLC boosted its position in Ingredion by 6.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock worth $293,000 after buying an additional 141 shares during the period. Assetmark Inc. boosted its position in 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. Sit Investment Associates Inc. boosted its position in Ingredion by 287.5% in the first quarter. Sit Investment Associates Inc. now owns 4,650 shares of the company’s stock worth $560,000 after buying an additional 3,450 shares during the period. Canada Pension Plan Investment Board boosted its position in Ingredion by 9.2% in the first quarter. Canada Pension Plan Investment Board now owns 286,595 shares of the company’s stock worth $34,515,000 after buying an additional 24,100 shares during the period. Finally, Swiss National Bank boosted its position in Ingredion by 28.8% in the first quarter. Swiss National Bank now owns 256,600 shares of the company’s stock worth $30,902,000 after buying an additional 57,400 shares during the period. 84.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Ingredion Incorporated (INGR) traded up 0.266% during midday trading on Friday, hitting $122.595. The stock had a trading volume of 111,622 shares. The company’s 50-day moving average price is $120.07 and its 200-day moving average price is $120.06. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 18.438 and a beta of 0.60. Ingredion Incorporated has a 12-month low of $113.07 and a 12-month high of $140.00.
Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 earnings per share. Equities research analysts forecast that Ingredion Incorporated will post $7.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, June 28th. Ingredion’s payout ratio is 30.08%.
A number of equities analysts have recently weighed in on INGR shares. Jefferies Group LLC reissued a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Wednesday, April 26th. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research report on Friday, August 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $125.00 price objective on shares of Ingredion in a research report on Tuesday, June 27th. Finally, BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $140.50.
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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