Starfire Investment Advisers Inc. acquired a new position in Ingredion Inc (NYSE:INGR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,145 shares of the company’s stock, valued at approximately $300,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in INGR. Toronto Dominion Bank increased its holdings in Ingredion by 10.6% in the 2nd quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after acquiring an additional 91 shares during the last quarter. WFG Advisors LP increased its holdings in Ingredion by 0.4% in the 2nd quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after acquiring an additional 6 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new stake in Ingredion in the 3rd quarter worth about $173,000. Csenge Advisory Group purchased a new stake in Ingredion in the 3rd quarter worth about $237,000. Finally, EagleClaw Capital Managment LLC purchased a new stake in Ingredion in the 2nd quarter worth about $253,000. 84.47% of the stock is owned by institutional investors.
A number of research firms have weighed in on INGR. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 target price on shares of Ingredion in a report on Friday, September 29th. Credit Suisse Group set a $156.00 target price on Ingredion and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, BidaskClub lowered Ingredion from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Ingredion currently has an average rating of “Buy” and an average price target of $144.50.
Ingredion Inc (NYSE:INGR) opened at $137.06 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.53 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9,804.54, a PE ratio of 19.64, a price-to-earnings-growth ratio of 1.47 and a beta of 0.72. Ingredion Inc has a twelve month low of $113.07 and a twelve month high of $142.64.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.17. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company posted $1.96 EPS. equities research analysts expect that Ingredion Inc will post 7.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.75%. Ingredion’s dividend payout ratio (DPR) is presently 34.38%.
In other news, SVP Jorgen Kokke sold 20,674 shares of Ingredion stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the completion of the sale, the senior vice president now owns 23,119 shares in the company, valued at approximately $3,074,827. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.
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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