Los Angeles Capital Management & Equity Research Inc. Sells 500 Shares of Ingredion Incorporated (INGR)
Los Angeles Capital Management & Equity Research Inc. decreased its stake in shares of Ingredion Incorporated (NYSE:INGR) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,967 shares of the company’s stock after selling 500 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Ingredion were worth $4,218,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in INGR. Chevy Chase Trust Holdings Inc. raised its stake in Ingredion by 3.2% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 3,684 shares of the company’s stock valued at $439,000 after buying an additional 114 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Ingredion by 504.4% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 11,671 shares of the company’s stock worth $1,391,000 after purchasing an additional 9,740 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in shares of Ingredion by 3.8% in the 2nd quarter. Sit Investment Associates Inc. now owns 4,825 shares of the company’s stock worth $575,000 after purchasing an additional 175 shares in the last quarter. State Treasurer State of Michigan increased its holdings in shares of Ingredion by 1.0% in the 2nd quarter. State Treasurer State of Michigan now owns 29,500 shares of the company’s stock worth $3,517,000 after purchasing an additional 300 shares in the last quarter. Finally, BB&T Corp increased its holdings in shares of Ingredion by 10.8% in the 2nd quarter. BB&T Corp now owns 41,572 shares of the company’s stock worth $4,956,000 after purchasing an additional 4,066 shares in the last quarter. Institutional investors and hedge funds own 83.77% of the company’s stock.
In related news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction on Friday, September 1st. The stock was sold at an average price of $125.00, for a total value of $381,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $125.04, for a total value of $2,733,624.48. Following the completion of the sale, the vice president now directly owns 29,306 shares of the company’s stock, valued at approximately $3,664,422.24. The disclosure for this sale can be found here. Insiders sold 73,556 shares of company stock valued at $9,371,676 in the last ninety days. 1.92% of the stock is currently owned by corporate insiders.
A number of analysts have commented on the company. Stephens raised Ingredion from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 15th. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub raised Ingredion from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Credit Suisse Group reissued an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Finally, Jefferies Group LLC set a $145.00 target price on Ingredion and gave the stock a “buy” rating in a report on Sunday, October 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $140.00.
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Shares of Ingredion Incorporated (INGR) opened at $134.37 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.41 and a debt-to-equity ratio of 0.61. Ingredion Incorporated has a fifty-two week low of $113.07 and a fifty-two week high of $134.38. The company has a market capitalization of $9,600.00, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.58 and a beta of 0.68.
Ingredion (NYSE:INGR) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.17. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. Ingredion’s revenue was down .3% compared to the same quarter last year. analysts forecast that Ingredion Incorporated will post 7.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, October 2nd were issued a $0.60 dividend. The ex-dividend date was Friday, September 29th. This represents a $2.40 annualized dividend and a dividend yield of 1.79%. This is a positive change from Ingredion’s previous quarterly dividend of $0.50. Ingredion’s payout ratio is presently 34.33%.
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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