California State Teachers Retirement System lowered its position in Ingredion Inc (NYSE:INGR) by 2.8% in the 1st quarter, Holdings Channel reports. The firm owned 127,946 shares of the company’s stock after selling 3,694 shares during the period. California State Teachers Retirement System’s holdings in Ingredion were worth $16,495,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. increased its holdings in Ingredion by 81.8% during the fourth quarter. Sei Investments Co. now owns 87,031 shares of the company’s stock worth $12,170,000 after buying an additional 39,154 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Ingredion by 13.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 119,341 shares of the company’s stock worth $16,685,000 after buying an additional 13,788 shares during the last quarter. Toronto Dominion Bank increased its holdings in Ingredion by 38.8% during the fourth quarter. Toronto Dominion Bank now owns 4,298 shares of the company’s stock worth $601,000 after buying an additional 1,202 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Ingredion during the fourth quarter worth about $211,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Ingredion by 3.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,026 shares of the company’s stock worth $2,101,000 after buying an additional 511 shares during the last quarter. Institutional investors own 85.62% of the company’s stock.
Get Ingredion alerts:Shares of Ingredion opened at $109.67 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.52 and a quick ratio of 1.59. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75. Ingredion Inc has a twelve month low of $107.77 and a twelve month high of $146.28.
Ingredion (NYSE:INGR) last issued its earnings results on Thursday, May 3rd. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Ingredion had a net margin of 8.71% and a return on equity of 19.75%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $1.88 earnings per share. analysts predict that Ingredion Inc will post 8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Monday, July 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 29th. This represents a $2.40 dividend on an annualized basis and a yield of 2.19%. Ingredion’s dividend payout ratio is presently 31.17%.
In other Ingredion news, Chairman Ilene S. Gordon sold 28,141 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $111.33, for a total transaction of $3,132,937.53. Following the completion of the transaction, the chairman now owns 252,255 shares in the company, valued at $28,083,549.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.
A number of analysts recently issued reports on INGR shares. ValuEngine downgraded shares of Ingredion from a “buy” rating to a “hold” rating in a report on Friday, April 6th. Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Ingredion from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Friday, May 4th. Stephens downgraded shares of Ingredion from an “overweight” rating to an “equal weight” rating in a report on Friday. Finally, Citigroup downgraded shares of Ingredion from a “buy” rating to a “neutral” rating in a report on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $137.00.
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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