Unigestion Holding SA reduced its holdings in Ingredion Inc (NYSE:INGR) by 52.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,647 shares of the company’s stock after selling 7,304 shares during the period. Unigestion Holding SA’s holdings in Ingredion were worth $543,000 as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also made changes to their positions in the company. WINTON GROUP Ltd bought a new stake in shares of Ingredion during the second quarter worth $21,732,000. Empirical Finance LLC boosted its holdings in Ingredion by 1.1% during the second quarter. Empirical Finance LLC now owns 15,033 shares of the company’s stock worth $1,240,000 after purchasing an additional 167 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in Ingredion by 32.9% during the second quarter. DAVENPORT & Co LLC now owns 14,948 shares of the company’s stock worth $1,233,000 after purchasing an additional 3,700 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Ingredion by 38.5% in the second quarter. Xact Kapitalforvaltning AB now owns 8,082 shares of the company’s stock valued at $667,000 after acquiring an additional 2,247 shares during the last quarter. Finally, 6 Meridian lifted its stake in Ingredion by 3.4% in the second quarter. 6 Meridian now owns 5,039 shares of the company’s stock valued at $416,000 after acquiring an additional 166 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.
In other Ingredion news, SVP Larry Fernandes sold 2,200 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $82.53, for a total transaction of $181,566.00. Following the completion of the transaction, the senior vice president now owns 15,172 shares in the company, valued at $1,252,145.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by company insiders.
A number of research firms have recently issued reports on INGR. Credit Suisse Group cut their target price on shares of Ingredion from $85.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Stephens began coverage on shares of Ingredion in a research report on Monday, October 7th. They set an “overweight” rating and a $97.00 price target on the stock. ValuEngine raised shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup decreased their target price on shares of Ingredion from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $101.00.
Shares of NYSE:INGR traded up $0.52 during mid-day trading on Friday, hitting $83.84. The company had a trading volume of 428,918 shares, compared to its average volume of 451,136. The firm has a fifty day moving average price of $80.86 and a 200 day moving average price of $80.80. The company has a market capitalization of $5.56 billion, a PE ratio of 12.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.45 and a quick ratio of 1.53. Ingredion Inc has a one year low of $73.00 and a one year high of $106.28.
Ingredion (NYSE:INGR) last posted its earnings results on Thursday, October 31st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.09. Ingredion had a net margin of 6.67% and a return on equity of 17.69%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business posted $1.70 EPS. The business’s revenue was up .7% compared to the same quarter last year. Research analysts expect that Ingredion Inc will post 6.55 earnings per share for the current fiscal year.
The company also recently disclosed a 0.62500 dividend, which was paid on Friday, October 25th. Investors of record on Tuesday, October 1st were issued a $0.63 dividend. This represents a yield of 3%. The ex-dividend date of this dividend was Monday, September 30th. Ingredion’s dividend payout ratio (DPR) is currently 36.42%.
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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