Brinker Capital Inc. boosted its stake in shares of Ingredion Inc (NYSE:INGR) by 195.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,304 shares of the company’s stock after purchasing an additional 8,134 shares during the period. Brinker Capital Inc.’s holdings in Ingredion were worth $1,166,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of INGR. Bank of New York Mellon Corp raised its stake in Ingredion by 66.8% during the third quarter. Bank of New York Mellon Corp now owns 1,648,711 shares of the company’s stock worth $173,050,000 after purchasing an additional 660,285 shares during the period. Martingale Asset Management L P raised its stake in Ingredion by 2.3% during the third quarter. Martingale Asset Management L P now owns 320,607 shares of the company’s stock worth $33,652,000 after purchasing an additional 7,257 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ingredion by 10.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 585,769 shares of the company’s stock valued at $61,481,000 after acquiring an additional 54,662 shares during the period. Man Group plc raised its stake in shares of Ingredion by 119.2% in the 3rd quarter. Man Group plc now owns 61,049 shares of the company’s stock valued at $6,407,000 after acquiring an additional 33,200 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Ingredion by 3.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,978 shares of the company’s stock valued at $1,782,000 after acquiring an additional 518 shares during the period. 88.84% of the stock is currently owned by institutional investors.
INGR has been the topic of a number of research reports. Seaport Global Securities initiated coverage on shares of Ingredion in a research note on Thursday, February 21st. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Vertical Group downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, ValuEngine downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $117.80.
Shares of INGR stock opened at $90.82 on Monday. Ingredion Inc has a 52 week low of $87.02 and a 52 week high of $126.39. The company has a current ratio of 2.26, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $6.06 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.16 and a beta of 0.68.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, February 5th. The company reported $1.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. Ingredion had a net margin of 7.31% and a return on equity of 17.77%. Ingredion’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. On average, equities analysts expect that Ingredion Inc will post 7.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 1st were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Friday, March 29th. Ingredion’s payout ratio is 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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