Ingredion Incorporated (NYSE:INGR) Shares Bought by Smithfield Trust Co.
Smithfield Trust Co. raised its stake in Ingredion Incorporated (NYSE:INGR) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,650 shares of the company’s stock after buying an additional 34 shares during the period. Smithfield Trust Co.’s holdings in Ingredion were worth $197,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in Ingredion by 23.3% in the fourth quarter. Macquarie Group Ltd. now owns 5,300 shares of the company’s stock valued at $662,000 after buying an additional 1,000 shares during the period. CENTRAL TRUST Co raised its stake in Ingredion by 0.8% in the first quarter. CENTRAL TRUST Co now owns 3,566 shares of the company’s stock worth $429,000 after buying an additional 28 shares during the last quarter. Raymond James Trust N.A. raised its stake in Ingredion by 20.7% in the first quarter. Raymond James Trust N.A. now owns 2,189 shares of the company’s stock worth $264,000 after buying an additional 376 shares during the last quarter. Highland Capital Management LLC raised its stake in Ingredion by 0.9% in the first quarter. Highland Capital Management LLC now owns 51,120 shares of the company’s stock worth $6,156,000 after buying an additional 443 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in Ingredion by 10.9% in the first quarter. Capstone Asset Management Co. now owns 8,366 shares of the company’s stock worth $1,008,000 after buying an additional 820 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Shares of Ingredion Incorporated (NYSE:INGR) opened at 122.37 on Tuesday. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 18.40 and a beta of 0.60. Ingredion Incorporated has a 52 week low of $113.07 and a 52 week high of $140.00. The firm has a 50-day moving average price of $119.37 and a 200-day moving average price of $120.10.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.03. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. Ingredion’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, equities analysts expect that Ingredion Incorporated will post $7.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.63%. Ingredion’s dividend payout ratio is 30.08%.
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A number of analysts recently commented on INGR shares. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research note on Tuesday, May 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Ingredion in a research note on Wednesday, April 26th. Finally, Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Ingredion has a consensus rating of “Hold” and a consensus price target of $140.50.
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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