Armbruster Capital Management Inc. Has $129,000 Stake in Ingredion Incorporated (NYSE:INGR)
Armbruster Capital Management Inc. held its position in shares of Ingredion Incorporated (NYSE:INGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,084 shares of the company’s stock at the end of the second quarter. Armbruster Capital Management Inc.’s holdings in Ingredion were worth $129,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. National Pension Service boosted its stake in shares of Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock valued at $105,000 after buying an additional 466 shares during the period. Assetmark Inc. boosted its stake in shares of Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock valued at $118,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Ingredion by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock valued at $149,000 after buying an additional 108 shares during the period. Global X Management Co. LLC boosted its stake in shares of Ingredion by 30.0% in the first quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock valued at $160,000 after buying an additional 306 shares during the period. Finally, WFG Advisors LP boosted its stake in shares of Ingredion by 0.4% in the first quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock valued at $165,000 after buying an additional 5 shares during the period. 84.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Ingredion Incorporated (NYSE:INGR) opened at 122.37 on Tuesday. Ingredion Incorporated has a one year low of $113.07 and a one year high of $140.00. The company has a market capitalization of $8.77 billion, a PE ratio of 18.40 and a beta of 0.60. The stock has a 50 day moving average of $119.37 and a 200-day moving average of $120.10.
Ingredion (NYSE:INGR) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.03. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. On average, equities analysts forecast that Ingredion Incorporated will post $7.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, June 28th. Ingredion’s dividend payout ratio (DPR) is presently 30.08%.
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Several brokerages have commented on INGR. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research report on Friday. BidaskClub raised shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. BMO Capital Markets reissued a “hold” rating and set a $125.00 price target on shares of Ingredion in a research report on Tuesday, June 27th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $145.00 price target on shares of Ingredion in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $140.50.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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