Ingredion Incorporated (NYSE:INGR) Stake Held by Cadinha & Co. LLC
Cadinha & Co. LLC maintained its position in Ingredion Incorporated (NYSE:INGR) during the second quarter, Holdings Channel reports. The institutional investor owned 3,016 shares of the company’s stock at the end of the second quarter. Cadinha & Co. LLC’s holdings in Ingredion were worth $360,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. National Pension Service raised its position in 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. raised its stake in shares of Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the last quarter. Penserra Capital Management LLC raised 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 worth $149,000 after buying an additional 108 shares during the last quarter. Global X Management Co. LLC raised 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 worth $160,000 after buying an additional 306 shares during the last quarter. Finally, WFG Advisors LP raised 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 worth $165,000 after buying an additional 5 shares during the last quarter. 84.12% of the stock is currently owned by institutional investors.
Shares of Ingredion Incorporated (NYSE INGR) opened at 122.93 on Thursday. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 18.49 and a beta of 0.60. The stock’s 50 day moving average price is $119.93 and its 200-day moving average price is $120.04. Ingredion Incorporated has a 12 month low of $113.07 and a 12 month high of $140.00.
Ingredion (NYSE:INGR) last released its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $1.53 EPS. Equities analysts forecast that Ingredion Incorporated will post $7.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, June 28th. Ingredion’s dividend payout ratio is 30.08%.
INGR has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 target price on shares of Ingredion in a research report on Wednesday, April 12th. BidaskClub lowered Ingredion from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Ingredion in a research report on Wednesday, April 26th. Finally, Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target 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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