LS Investment Advisors LLC Purchases 4,129 Shares of Ingredion Inc. (INGR)
LS Investment Advisors LLC increased its position in Ingredion Inc. (NYSE:INGR) by 163.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,657 shares of the company’s stock after buying an additional 4,129 shares during the period. LS Investment Advisors LLC’s holdings in Ingredion were worth $861,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of INGR. Geode Capital Management LLC raised its position in Ingredion by 6.4% in the first quarter. Geode Capital Management LLC now owns 462,739 shares of the company’s stock worth $49,415,000 after buying an additional 27,815 shares during the last quarter. Squarepoint Ops LLC raised its position in Ingredion by 211.3% in the first quarter. Squarepoint Ops LLC now owns 19,367 shares of the company’s stock worth $2,068,000 after buying an additional 13,146 shares during the last quarter. Renaissance Technologies LLC raised its position in Ingredion by 14,201.6% in the first quarter. Renaissance Technologies LLC now owns 572,064 shares of the company’s stock worth $61,091,000 after buying an additional 568,064 shares during the last quarter. Advisor Partners LLC bought a new position in Ingredion during the first quarter worth approximately $201,000. Finally, Teachers Advisors Inc. raised its position in Ingredion by 13.1% in the first quarter. Teachers Advisors Inc. now owns 154,952 shares of the company’s stock worth $16,547,000 after buying an additional 18,001 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Ingredion Inc. (NYSE:INGR) traded up 0.62% during midday trading on Wednesday, hitting $134.30. The company had a trading volume of 332,106 shares. Ingredion Inc. has a 1-year low of $84.57 and a 1-year high of $140.00. The firm has a market capitalization of $9.69 billion, a P/E ratio of 21.48 and a beta of 1.00. The stock has a 50 day moving average price of $133.78 and a 200 day moving average price of $124.87.
Ingredion (NYSE:INGR) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.65 by $0.07. Ingredion had a net margin of 7.94% and a return on equity of 21.01%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned $1.53 EPS. On average, equities analysts anticipate that Ingredion Inc. will post $6.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.45. Ingredion’s dividend payout ratio is 32.21%.
A number of equities analysts have recently commented on INGR shares. Societe Generale started coverage on Ingredion in a report on Wednesday, September 7th. They issued a “hold” rating for the company. Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $146.00 price target for the company in a report on Thursday, September 22nd. Citigroup Inc. raised their price target on Ingredion from $140.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $147.00 price target (up from $136.00) on shares of Ingredion in a report on Friday, July 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Ingredion presently has a consensus rating of “Hold” and an average price target of $124.33.
In other news, VP Jack C. Fortnum sold 34,800 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $134.54, for a total transaction of $4,681,992.00. Following the sale, the vice president now directly owns 145,369 shares in the company, valued at approximately $19,557,945.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert J. Stefansic sold 18,810 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $135.97, for a total transaction of $2,557,595.70. Following the sale, the senior vice president now owns 16,890 shares in the company, valued at $2,296,533.30. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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