Shell Asset Management Co. lowered its stake in Ingredion Inc (NYSE:INGR) by 3.5% in the first quarter, HoldingsChannel.com reports. The firm owned 80,906 shares of the company’s stock after selling 2,906 shares during the quarter. Shell Asset Management Co.’s holdings in Ingredion were worth $6,108,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. LSV Asset Management increased its holdings in shares of Ingredion by 4.8% in the fourth quarter. LSV Asset Management now owns 3,223,553 shares of the company’s stock valued at $299,629,000 after purchasing an additional 148,589 shares in the last quarter. State Street Corp increased its holdings in shares of Ingredion by 4.3% in the fourth quarter. State Street Corp now owns 2,740,618 shares of the company’s stock valued at $256,445,000 after purchasing an additional 111,767 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Ingredion by 37.3% in the fourth quarter. AQR Capital Management LLC now owns 1,866,667 shares of the company’s stock valued at $173,077,000 after purchasing an additional 507,195 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Ingredion by 4,702.9% in 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 purchasing an additional 1,389,845 shares in the last quarter. Finally, AJO LP increased its holdings in shares of Ingredion by 13.8% in the fourth quarter. AJO LP now owns 1,406,235 shares of the company’s stock valued at $130,708,000 after purchasing an additional 170,056 shares in the last quarter. 88.13% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on INGR shares. Zacks Investment Research lowered shares of Ingredion from a “buy” rating to a “hold” rating in a report on Tuesday, April 7th. ValuEngine cut shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. TheStreet cut shares of Ingredion from a “b” rating to a “c+” rating in a research note on Wednesday, March 11th. Credit Suisse Group reduced their price objective on shares of Ingredion from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Finally, Goldman Sachs Group raised shares of Ingredion from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $79.00 to $74.00 in a research note on Thursday, March 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Ingredion currently has an average rating of “Hold” and a consensus target price of $92.67.
In other news, Director Stephan B. Tanda purchased 985 shares of Ingredion stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $81.04 per share, with a total value of $79,824.40. Following the completion of the transaction, the director now directly owns 2,318 shares in the company, valued at approximately $187,850.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.15% of the company’s stock.
Shares of NYSE INGR traded up $0.73 during midday trading on Friday, reaching $79.54. 328,914 shares of the stock were exchanged, compared to its average volume of 604,203. The business has a 50-day simple moving average of $79.99 and a two-hundred day simple moving average of $84.83. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 13.83 and a beta of 0.77. Ingredion Inc has a 12 month low of $59.11 and a 12 month high of $99.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.34 and a quick ratio of 1.42.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Ingredion had a net margin of 6.49% and a return on equity of 17.07%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. Equities research analysts expect that Ingredion Inc will post 6.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. Ingredion’s dividend payout ratio is 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.
See Also: Price-Sales Ratio
Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Inc (NYSE:INGR).
Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.