Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Ingredion Inc (NYSE:INGR) by 21.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,205 shares of the company’s stock after buying an additional 4,136 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Ingredion were worth $1,752,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of INGR. Caisse DE Depot ET Placement DU Quebec boosted its position in Ingredion by 4,702.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,419,398 shares of the company’s stock valued at $131,933,000 after buying an additional 1,389,845 shares during the period. Norges Bank purchased a new stake in Ingredion during the fourth quarter valued at about $68,271,000. AQR Capital Management LLC boosted its position in Ingredion by 37.3% during the fourth quarter. AQR Capital Management LLC now owns 1,866,667 shares of the company’s stock valued at $173,077,000 after buying an additional 507,195 shares during the period. St. James Investment Company LLC boosted its position in Ingredion by 7,802.4% during the first quarter. St. James Investment Company LLC now owns 307,402 shares of the company’s stock valued at $23,209,000 after buying an additional 303,512 shares during the period. Finally, Investec Asset Management LTD boosted its position in Ingredion by 157.0% during the fourth quarter. Investec Asset Management LTD now owns 436,125 shares of the company’s stock valued at $40,538,000 after buying an additional 266,417 shares during the period. Institutional investors and hedge funds own 88.13% of the company’s stock.
In related news, Director Stephan B. Tanda purchased 985 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $81.04 per share, with a total value of $79,824.40. Following the completion of the purchase, the director now directly owns 2,318 shares in the company, valued at $187,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.15% of the stock is owned by corporate insiders.
Several research firms have issued reports on INGR. BMO Capital Markets cut their price target on shares of Ingredion from $104.00 to $93.00 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Goldman Sachs Group raised shares of Ingredion from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $79.00 to $74.00 in a research note on Thursday, March 26th. ValuEngine downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Credit Suisse Group lowered their price objective on shares of Ingredion from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Finally, TheStreet downgraded shares of Ingredion from a “b” rating to a “c+” rating in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $92.67.
Shares of NYSE:INGR opened at $79.54 on Friday. Ingredion Inc has a 12 month low of $59.11 and a 12 month high of $99.51. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 13.83 and a beta of 0.77. The company has a 50-day moving average price of $79.99 and a 200-day moving average price of $84.83. The company has a current ratio of 2.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.07. Ingredion had a net margin of 6.49% and a return on equity of 17.07%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm earned $1.54 earnings per share. Ingredion’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Ingredion Inc will post 6.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Wednesday, July 1st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, June 30th. Ingredion’s payout ratio is currently 37.89%.
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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