Candriam Luxembourg S.C.A. Buys New Shares in Ingredion Inc (NYSE:INGR)
Candriam Luxembourg S.C.A. bought a new stake in shares of Ingredion Inc (NYSE:INGR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,405 shares of the company’s stock, valued at approximately $283,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Ingredion by 44.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,048,682 shares of the company’s stock valued at $154,675,000 after acquiring an additional 629,284 shares during the period. Geode Capital Management LLC lifted its position in shares of Ingredion by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 884,832 shares of the company’s stock valued at $82,180,000 after acquiring an additional 24,589 shares during the period. Silvercrest Asset Management Group LLC lifted its position in shares of Ingredion by 15.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 761,056 shares of the company’s stock valued at $57,459,000 after acquiring an additional 99,952 shares during the period. Norges Bank acquired a new position in shares of Ingredion during the 4th quarter valued at $68,271,000. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Ingredion by 3.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 511,989 shares of the company’s stock valued at $38,655,000 after acquiring an additional 19,450 shares during the period. Institutional investors own 85.15% of the company’s stock.
INGR opened at $86.50 on Friday. The firm has a market cap of $5.79 billion, a P/E ratio of 15.04 and a beta of 0.76. The firm has a 50-day moving average of $84.00 and a 200 day moving average of $83.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 2.34. Ingredion Inc has a fifty-two week low of $59.11 and a fifty-two week high of $99.51.
The business also recently declared a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 1st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.52 annualized dividend and a yield of 2.91%. Ingredion’s payout ratio is currently 37.89%.
INGR has been the topic of a number of research reports. Credit Suisse Group dropped their target price on shares of Ingredion from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Zacks Investment Research downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a report on Wednesday, July 1st. BMO Capital Markets lowered their price objective on shares of Ingredion from $104.00 to $93.00 and set a “market perform” rating on the stock in a report on Wednesday, May 6th. ValuEngine downgraded shares of Ingredion from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Finally, Berenberg Bank initiated coverage on shares of Ingredion in a report on Thursday, July 16th. They set a “buy” rating and a $105.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $94.43.
In related news, Director Stephan B. Tanda purchased 985 shares of Ingredion stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $81.04 per share, for a total transaction of $79,824.40. Following the completion of the transaction, the director now owns 2,318 shares in the company, valued at $187,850.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.15% of the stock is currently owned by corporate insiders.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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