Bank of Montreal Can decreased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 33.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,875 shares of the company’s stock after selling 40,341 shares during the period. Bank of Montreal Can owned 0.11% of Ingredion worth $9,404,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. New England Research & Management Inc. boosted its position in Ingredion by 55.3% in the second quarter. New England Research & Management Inc. now owns 3,650 shares of the company’s stock valued at $435,000 after buying an additional 1,300 shares during the last quarter. 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 valued at $293,000 after buying an additional 141 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Ingredion by 6.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 9,208 shares of the company’s stock valued at $1,109,000 after buying an additional 538 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Ingredion by 0.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 114,169 shares of the company’s stock valued at $13,749,000 after buying an additional 600 shares during the last quarter. Finally, Pointe Capital Management LLC purchased a new position in Ingredion during the first quarter valued at $296,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
Ingredion Incorporated (INGR) opened at 122.72 on Friday. The company has a market capitalization of $8.80 billion, a PE ratio of 18.46 and a beta of 0.60. Ingredion Incorporated has a one year low of $113.07 and a one year high of $140.00. The company has a 50-day moving average price of $120.23 and a 200-day moving average price of $120.03.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. Analysts expect that Ingredion Incorporated will post $7.64 earnings per share 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. This represents a $2.00 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, June 28th. Ingredion’s payout ratio is 30.08%.
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INGR has been the topic of several research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $145.00 price target on shares of Ingredion in a report on Wednesday, April 26th. BMO Capital Markets reissued a “hold” rating and set a $125.00 price target on shares of Ingredion in a report on Tuesday, May 16th. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Finally, Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a report 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. The company 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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