Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Ingredion Inc (NYSE:INGR) by 24.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,610 shares of the company’s stock after buying an additional 2,271 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ingredion were worth $1,099,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Ingredion by 4.5% during the 4th quarter. BlackRock Inc. now owns 7,702,940 shares of the company’s stock worth $704,050,000 after buying an additional 334,715 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Ingredion by 10,975.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock worth $50,000 after buying an additional 4,498,125 shares during the period. Victory Capital Management Inc. raised its stake in Ingredion by 1.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,100,276 shares of the company’s stock worth $191,966,000 after buying an additional 38,616 shares during the period. Bank of New York Mellon Corp raised its stake in Ingredion by 26.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,085,995 shares of the company’s stock worth $190,659,000 after buying an additional 437,284 shares during the period. Finally, FMR LLC raised its stake in Ingredion by 36.5% during the 4th quarter. FMR LLC now owns 2,020,943 shares of the company’s stock worth $184,714,000 after buying an additional 540,698 shares during the period. 89.00% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on INGR. Zacks Investment Research raised Ingredion from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Vertical Group downgraded Ingredion from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine downgraded Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Seaport Global Securities started coverage on Ingredion in a research note on Thursday, February 21st. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $118.50.
Shares of Ingredion stock opened at $84.03 on Thursday. The company has a market capitalization of $5.78 billion, a PE ratio of 12.14, a P/E/G ratio of 1.12 and a beta of 0.67. Ingredion Inc has a 52 week low of $83.70 and a 52 week high of $116.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.41 and a quick ratio of 1.45.
Ingredion (NYSE:INGR) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.12). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Ingredion had a return on equity of 17.18% and a net margin of 6.70%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. On average, equities research analysts predict that Ingredion Inc will post 7.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 1st were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Friday, March 29th. Ingredion’s dividend payout ratio (DPR) is presently 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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