Franklin Resources Inc. lowered its position in Ingredion Inc (NYSE:INGR) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,692 shares of the company’s stock after selling 533 shares during the period. Franklin Resources Inc.’s holdings in Ingredion were worth $1,356,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of INGR. New York State Common Retirement Fund raised its position in shares of Ingredion by 21.9% in the third quarter. New York State Common Retirement Fund now owns 311,983 shares of the company’s stock worth $37,638,000 after acquiring an additional 56,079 shares during the period. Ameriprise Financial Inc. raised its position in shares of Ingredion by 14.1% in the third quarter. Ameriprise Financial Inc. now owns 276,790 shares of the company’s stock worth $33,395,000 after acquiring an additional 34,146 shares during the period. Legal & General Group Plc raised its position in shares of Ingredion by 7.1% in the third quarter. Legal & General Group Plc now owns 365,928 shares of the company’s stock worth $44,145,000 after acquiring an additional 24,207 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Ingredion by 9.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,976 shares of the company’s stock worth $1,686,000 after acquiring an additional 1,211 shares during the period. Finally, Twin Capital Management Inc. acquired a new position in shares of Ingredion in the third quarter worth about $796,000. Institutional investors and hedge funds own 86.52% of the company’s stock.
INGR has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research report on Wednesday, January 24th. Credit Suisse Group set a $156.00 price objective on shares of Ingredion and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, ValuEngine upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $146.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.01). Ingredion had a return on equity of 20.42% and a net margin of 8.63%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $1.67 EPS. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. sell-side analysts expect that Ingredion Inc will post 8.3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, April 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.40 annualized dividend and a dividend yield of 1.86%. Ingredion’s dividend payout ratio (DPR) is presently 31.17%.
In other Ingredion news, SVP Martin Sonntag sold 14,939 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.00, for a total value of $2,016,765.00. Following the completion of the sale, the senior vice president now owns 9,875 shares in the company, valued at approximately $1,333,125. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Stefansic sold 9,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $129.62, for a total transaction of $1,166,580.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,541 shares of company stock valued at $5,424,781. Insiders own 1.92% of the company’s stock.
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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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