Putnam Investments LLC decreased its holdings in shares of Ingredion Inc (NYSE:INGR) by 12.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,821 shares of the company’s stock after selling 11,297 shares during the period. Putnam Investments LLC owned approximately 0.11% of Ingredion worth $9,168,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its holdings in Ingredion by 27.8% during the 1st quarter. Allianz Asset Management GmbH now owns 1,829,492 shares of the company’s stock valued at $235,859,000 after buying an additional 398,071 shares during the last quarter. Bessemer Group Inc. grew its holdings in Ingredion by 62.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,034,059 shares of the company’s stock valued at $114,472,000 after buying an additional 396,628 shares during the last quarter. USS Investment Management Ltd grew its holdings in Ingredion by 306.0% during the 2nd quarter. USS Investment Management Ltd now owns 312,200 shares of the company’s stock valued at $34,561,000 after buying an additional 235,300 shares during the last quarter. Millennium Management LLC grew its holdings in Ingredion by 94.1% during the 2nd quarter. Millennium Management LLC now owns 350,601 shares of the company’s stock valued at $38,812,000 after buying an additional 169,995 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Ingredion by 48.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 497,536 shares of the company’s stock valued at $55,078,000 after buying an additional 162,688 shares during the last quarter. Institutional investors own 83.60% of the company’s stock.
Shares of Ingredion stock traded up $0.74 during trading hours on Friday, hitting $100.74. 397,962 shares of the company’s stock traded hands, compared to its average volume of 519,849. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.46 and a quick ratio of 1.48. The company has a market capitalization of $7.58 billion, a PE ratio of 13.08, a P/E/G ratio of 1.27 and a beta of 0.61. Ingredion Inc has a twelve month low of $95.01 and a twelve month high of $146.28.
Ingredion (NYSE:INGR) last announced its earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.89 earnings per share. On average, equities analysts expect that Ingredion Inc will post 7.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, October 1st will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, September 28th. This is an increase from Ingredion’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a dividend yield of 2.48%. Ingredion’s dividend payout ratio (DPR) is currently 32.47%.
INGR has been the topic of a number of recent analyst reports. Credit Suisse Group lowered Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 price target on the stock. in a research note on Wednesday, July 18th. Zacks Investment Research raised Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research report on Friday, July 13th. ValuEngine raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Citigroup lowered Ingredion from a “neutral” rating to a “sell” rating in a research report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $131.60.
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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