2 days Ago By ABMN Staff
Victory Capital Management Inc. lowered its stake in Ingredion Incorporated ( NYSE:INGR – Free Report ) by 90.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission.
The institutional investor owned 27,386 shares of the company’s stock after selling 273,806 shares during the period. Victory Capital Management Inc.’s holdings in Ingredion were worth $3,141,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Foster & Motley Inc. boosted its holdings in Ingredion by 15.
5% in the second quarter. Foster & Motley Inc. now owns 10,677 shares of the company’s stock valued at $1,225,000 after acquiring an additional 1,433 shares in the last quarter.
Impact Partnership Wealth LLC bought a new stake in Ingredion in the second quarter valued at $408,000. Cooke & Bieler LP boosted its holdings in Ingredion by 2.7% in the second quarter.
Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after acquiring an additional 27,087 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in Ingredion by 8.1% during the second quarter.
Foundations Investment Advisors LLC now owns 2,107 shares of the company’s stock valued at $242,000 after buying an additional 158 shares during the period. Finally, Legacy Capital Wealth Partners LLC purchased a new position in Ingredion during the second quarter valued at $464,000. Institutional investors own 85.
27% of the company’s stock. Analysts Set New Price Targets INGR has been the subject of several recent research reports. UBS Group raised their price objective on Ingredion from $141.
00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barclays raised Ingredion from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $122.
00 to $145.00 in a research report on Friday, August 9th. StockNews.
com lowered Ingredion from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer raised their price objective on Ingredion from $126.00 to $138.
00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets raised their price objective on Ingredion from $120.00 to $128.
00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.
33. Insiders Place Their Bets In other Ingredion news, SVP Robert A. Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st.
The stock was sold at an average price of $125.00, for a total value of $149,375.00.
Following the completion of the transaction, the senior vice president now owns 15,906 shares of the company’s stock, valued at approximately $1,988,250. The sale was disclosed in a legal filing with the SEC, which is available through this link . In other Ingredion news, SVP Robert A.
Ritchie sold 1,195 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $125.00, for a total transaction of $149,375.
00. Following the completion of the sale, the senior vice president now directly owns 15,906 shares in the company, valued at approximately $1,988,250. The transaction was disclosed in a filing with the SEC, which is available at the SEC website .
Also, CEO James P. Zallie sold 1,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $134.
03, for a total value of $174,239.00. Following the sale, the chief executive officer now owns 52,530 shares of the company’s stock, valued at $7,040,595.
90. The disclosure for this sale can be found here . In the last 90 days, insiders sold 26,045 shares of company stock valued at $3,482,491.
1.80% of the stock is owned by insiders. Ingredion Price Performance INGR opened at $134.
70 on Tuesday. The stock has a 50-day moving average price of $127.02 and a 200-day moving average price of $119.
65. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.
52 and a quick ratio of 1.51. The firm has a market cap of $8.
76 billion, a PE ratio of 13.50, a P/E/G ratio of 1.23 and a beta of 0.
73. Ingredion Incorporated has a 1 year low of $89.54 and a 1 year high of $137.
21. Ingredion ( NYSE:INGR – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.
87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.34.
Ingredion had a return on equity of 17.18% and a net margin of 8.47%.
The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.98 billion.
During the same quarter in the previous year, the firm earned $2.32 EPS. Ingredion’s quarterly revenue was down 9.
2% compared to the same quarter last year. Sell-side analysts predict that Ingredion Incorporated will post 9.95 earnings per share for the current fiscal year.
Ingredion Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be given a $0.80 dividend.
This is a positive change from Ingredion’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, October 1st.
This represents a $3.20 dividend on an annualized basis and a yield of 2.38%.
Ingredion’s payout ratio is 31.26%. Ingredion Company Profile ( Free Report ) Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.
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