Cadinha & Co. LLC continued to hold its position in shares of Ingredion Incorporated (NYSE:INGR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,016 shares of the company’s stock at the end of the fourth quarter. Cadinha & Co. LLC’s holdings in Ingredion were worth $377,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Global X Management Co. LLC increased its position in Ingredion by 58.0% in the third quarter. Global X Management Co. LLC now owns 771 shares of the company’s stock valued at $103,000 after buying an additional 283 shares during the period. NEXT Financial Group Inc increased its position in Ingredion by 14.4% in the third quarter. NEXT Financial Group Inc now owns 795 shares of the company’s stock valued at $106,000 after buying an additional 100 shares during the period. ClariVest Asset Management LLC purchased a new position in Ingredion during the second quarter valued at $135,000. Penserra Capital Management LLC increased its position in Ingredion by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,296 shares of the company’s stock valued at $172,000 after buying an additional 648 shares during the period. Finally, Smithfield Trust Co. increased its position in Ingredion by 320.9% in the second quarter. Smithfield Trust Co. now owns 1,448 shares of the company’s stock valued at $187,000 after buying an additional 1,104 shares during the period. Institutional investors own 85.31% of the company’s stock.
Ingredion Incorporated (NYSE:INGR) traded down 0.55% during midday trading on Monday, reaching $120.13. The company’s stock had a trading volume of 374,008 shares. Ingredion Incorporated has a 52 week low of $96.01 and a 52 week high of $140.00. The stock has a market capitalization of $8.70 billion, a PE ratio of 18.34 and a beta of 0.73. The firm’s 50-day moving average price is $124.40 and its 200-day moving average price is $128.62.
Ingredion (NYSE:INGR) last released its earnings results on Thursday, February 2nd. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.43 billion. Ingredion had a return on equity of 21.08% and a net margin of 8.33%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share. On average, analysts anticipate that Ingredion Incorporated will post $7.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 25th. Investors of record on Friday, December 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.66%. Ingredion’s payout ratio is 30.77%.
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INGR has been the subject of several recent research reports. Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Ingredion in a report on Friday, February 3rd. Credit Suisse Group increased their price target on Ingredion from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Finally, Stephens cut Ingredion from an “overweight” rating to an “equal weight” rating in a report on Friday, February 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $148.50.
Ingredion Company Profile
Ingredion Incorporated (Ingredion) is a global ingredients solutions provider. The Company is engaged in the production and sale of starches and sweeteners for a range of industries. Its operations are classified into four segments: North America, South America, Asia Pacific, and Europe, Middle East and Africa (EMEA).
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