KBC Group NV raised its position in Ingredion Inc (NYSE:INGR) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,152 shares of the company’s stock after acquiring an additional 1,702 shares during the quarter. KBC Group NV owned approximately 0.06% of Ingredion worth $5,568,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of INGR. Victory Capital Management Inc. grew its position in shares of Ingredion by 87.3% during the third quarter. Victory Capital Management Inc. now owns 1,396,952 shares of the company’s stock worth $168,528,000 after purchasing an additional 651,035 shares in the last quarter. LSV Asset Management grew its position in shares of Ingredion by 20.2% during the second quarter. LSV Asset Management now owns 1,303,657 shares of the company’s stock worth $155,408,000 after purchasing an additional 218,710 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Ingredion by 19.0% during the third quarter. Principal Financial Group Inc. now owns 1,215,767 shares of the company’s stock worth $146,670,000 after purchasing an additional 193,722 shares in the last quarter. AJO LP grew its position in shares of Ingredion by 2.8% during the second quarter. AJO LP now owns 1,052,662 shares of the company’s stock worth $125,488,000 after purchasing an additional 28,372 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Ingredion by 1.7% during the second quarter. Goldman Sachs Group Inc. now owns 999,894 shares of the company’s stock worth $119,197,000 after purchasing an additional 16,793 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. BMO Capital Markets restated a “hold” rating and set a $125.00 price target on shares of Ingredion in a report on Friday, September 29th. BidaskClub raised Ingredion from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research lowered Ingredion from a “buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a research note on Wednesday, September 27th. Stephens raised Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $140.00.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $1.96 EPS. The business’s revenue was down .3% compared to the same quarter last year. equities research analysts anticipate that Ingredion Inc will post 7.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, December 29th. This represents a $2.40 annualized dividend and a yield of 1.72%. Ingredion’s dividend payout ratio (DPR) is 34.38%.
In related news, SVP Jorgen Kokke sold 20,674 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $133.00, for a total transaction of $2,749,642.00. Following the transaction, the senior vice president now directly owns 23,119 shares in the company, valued at approximately $3,074,827. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.92% of the stock is owned by insiders.
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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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