Ingredion Incorporated (INGR) Position Reduced by New Amsterdam Partners LLC NY
New Amsterdam Partners LLC NY lowered its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,460 shares of the company’s stock after selling 1,019 shares during the period. New Amsterdam Partners LLC NY’s holdings in Ingredion were worth $6,135,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Penobscot Investment Management Company Inc. raised its stake in Ingredion by 17.5% in the first quarter. Penobscot Investment Management Company Inc. now owns 5,030 shares of the company’s stock worth $606,000 after buying an additional 750 shares during the last quarter. Northpointe Capital LLC purchased a new stake in Ingredion during the first quarter worth $2,145,000. Sit Investment Associates Inc. raised its stake in Ingredion by 287.5% in the first quarter. Sit Investment Associates Inc. now owns 4,650 shares of the company’s stock worth $560,000 after buying an additional 3,450 shares during the last quarter. First Manhattan Co. raised its stake in Ingredion by 1.0% in the first quarter. First Manhattan Co. now owns 458,512 shares of the company’s stock worth $61,009,000 after buying an additional 4,748 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Ingredion by 6.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,931 shares of the company’s stock worth $217,000 after buying an additional 113 shares during the last quarter. 84.12% of the stock is owned by institutional investors and hedge funds.
Shares of Ingredion Incorporated (NYSE INGR) opened at 122.72 on Friday. Ingredion Incorporated has a 12-month low of $113.07 and a 12-month high of $140.00. The company’s 50-day moving average is $120.23 and its 200-day moving average is $120.03. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 18.46 and a beta of 0.60.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $1.53 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Ingredion Incorporated will post $7.64 earnings per share for the current fiscal year.
The firm 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. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.63%. Ingredion’s payout ratio is presently 30.08%.
A number of equities research analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Ingredion in a report on Wednesday, April 26th. BidaskClub lowered shares of Ingredion from a “sell” rating to a “strong sell” rating in a report on Wednesday. Zacks Investment Research raised shares of Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price target on shares of Ingredion in a report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Ingredion presently has a consensus rating of “Hold” and an average target price 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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