IndexIQ Advisors LLC raised its holdings in shares of Ingredion Inc (NYSE:INGR) by 46.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,869 shares of the company’s stock after acquiring an additional 2,189 shares during the quarter. IndexIQ Advisors LLC’s holdings in Ingredion were worth $650,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in INGR. Prime Capital Investment Advisors LLC purchased a new position in Ingredion during the 1st quarter valued at about $28,000. Capital Investment Advisory Services LLC purchased a new position in Ingredion during the 4th quarter valued at about $30,000. Harvest Group Wealth Management LLC purchased a new position in Ingredion during the 1st quarter valued at about $36,000. Lavaca Capital LLC purchased a new position in Ingredion during the 4th quarter valued at about $48,000. Finally, Oregon Public Employees Retirement Fund grew its stake in Ingredion by 10,975.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock valued at $50,000 after acquiring an additional 4,498,125 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors.
Shares of Ingredion stock opened at $81.62 on Wednesday. The stock has a market cap of $5.44 billion, a PE ratio of 11.79, a PEG ratio of 1.09 and a beta of 0.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.41 and a quick ratio of 1.45. Ingredion Inc has a 52-week low of $81.54 and a 52-week high of $116.39.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 1st will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.50 annualized dividend and a yield of 3.06%. Ingredion’s dividend payout ratio (DPR) is currently 36.13%.
Several equities research analysts have recently issued reports on INGR shares. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine lowered Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Vertical Group lowered Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. TheStreet lowered Ingredion from a “b-” rating to a “c+” rating in a report on Tuesday, May 7th. Finally, Seaport Global Securities started coverage on Ingredion in a report on Thursday, February 21st. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $118.50.
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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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