Pitcairn Co. Has $1.61 Million Stake in Ingredion Incorporated (NYSE:INGR)
Pitcairn Co. increased its position in Ingredion Incorporated (NYSE:INGR) by 17.8% during the second quarter, Holdings Channel reports. The fund owned 13,482 shares of the company’s stock after buying an additional 2,036 shares during the period. Pitcairn Co.’s holdings in Ingredion were worth $1,607,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of INGR. WFG Advisors LP increased 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 period. HL Financial Services LLC increased its stake in shares of Ingredion by 0.4% in the second quarter. HL Financial Services LLC now owns 2,730 shares of the company’s stock worth $325,000 after buying an additional 12 shares during the period. Somerset Trust Co increased its stake in shares of Ingredion by 0.5% in the second quarter. Somerset Trust Co now owns 6,317 shares of the company’s stock worth $753,000 after buying an additional 30 shares during the period. Smithfield Trust Co. increased its stake in shares of Ingredion by 2.1% in the second quarter. Smithfield Trust Co. now owns 1,650 shares of the company’s stock worth $197,000 after buying an additional 34 shares during the period. Finally, Benedict Financial Advisors Inc. increased its stake in shares of Ingredion by 1.0% in the second quarter. Benedict Financial Advisors Inc. now owns 4,050 shares of the company’s stock worth $494,000 after buying an additional 42 shares during the period. 84.12% of the stock is owned by hedge funds and other institutional investors.
Ingredion Incorporated (NYSE INGR) opened at 122.72 on Friday. The company has a market capitalization of $8.80 billion, a PE ratio of 18.46 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 stock’s 50 day moving average price is $120.23 and its 200-day moving average price is $120.03.
Ingredion (NYSE:INGR) last announced its earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.03. The firm had revenue of $1.46 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 EPS. On average, equities research analysts predict 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. Stockholders of record on Friday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Wednesday, June 28th. Ingredion’s dividend payout ratio is 30.08%.
A number of equities research analysts recently issued reports on INGR shares. Jefferies Group LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Ingredion in a research report on Wednesday, April 26th. Zacks Investment Research upgraded 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, August 4th. BMO Capital Markets restated a “hold” rating and set a $125.00 price target on shares of Ingredion in a research report on Tuesday, June 27th. Finally, BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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