Acadian Asset Management LLC trimmed its position in Ingredion Inc (NYSE:INGR) by 9.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 153,205 shares of the company’s stock after selling 16,259 shares during the period. Acadian Asset Management LLC’s holdings in Ingredion were worth $14,003,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Toronto Dominion Bank raised its holdings in Ingredion by 21.7% during the 4th quarter. Toronto Dominion Bank now owns 9,637 shares of the company’s stock worth $880,000 after buying an additional 1,718 shares during the period. Westpac Banking Corp raised its holdings in Ingredion by 595.7% during the 4th quarter. Westpac Banking Corp now owns 65,634 shares of the company’s stock worth $5,999,000 after buying an additional 56,200 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Ingredion by 21.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 49,662 shares of the company’s stock worth $4,539,000 after buying an additional 8,680 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in Ingredion by 1.8% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,089 shares of the company’s stock worth $557,000 after buying an additional 110 shares during the period. Finally, South Dakota Investment Council raised its holdings in Ingredion by 11.0% during the 4th quarter. South Dakota Investment Council now owns 10,100 shares of the company’s stock worth $923,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 85.29% of the company’s stock.
INGR has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a report on Tuesday, October 30th. Citigroup upgraded shares of Ingredion from a “sell” rating to a “neutral” rating in a report on Thursday, November 1st. Jefferies Financial Group raised their target price on shares of Ingredion to $145.00 and gave the stock a “buy” rating in a report on Monday, November 19th. Vertical Group downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Finally, ValuEngine downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $117.80.
Shares of INGR opened at $93.66 on Friday. The company has a market cap of $6.61 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.73. Ingredion Inc has a twelve month low of $87.02 and a twelve month high of $135.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.26 and a quick ratio of 1.39.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Ingredion had a return on equity of 17.77% and a net margin of 7.31%. Ingredion’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. As a group, sell-side analysts expect that Ingredion Inc will post 7.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 25th. Stockholders of record on Wednesday, January 2nd were paid a dividend of $0.625 per share. The ex-dividend date was Monday, December 31st. This represents a $2.50 annualized dividend and a dividend yield of 2.67%. Ingredion’s dividend payout ratio is currently 36.13%.
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Ingredion Company Profile
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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