JPMorgan Chase & Co. lifted its holdings in shares of Ingredion Inc (NYSE:INGR) by 10.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 585,769 shares of the company’s stock after purchasing an additional 54,662 shares during the quarter. JPMorgan Chase & Co. owned 0.81% of Ingredion worth $61,481,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. increased its stake in Ingredion by 42.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock valued at $187,000 after acquiring an additional 500 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Ingredion by 20.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,327 shares of the company’s stock valued at $479,000 after buying an additional 733 shares in the last quarter. Bank of Montreal Can boosted its position in Ingredion by 1.6% in the second quarter. Bank of Montreal Can now owns 47,076 shares of the company’s stock valued at $5,212,000 after buying an additional 762 shares in the last quarter. D.A. Davidson & CO. boosted its position in Ingredion by 32.8% in the second quarter. D.A. Davidson & CO. now owns 3,594 shares of the company’s stock valued at $398,000 after buying an additional 888 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Ingredion by 5.2% in the second quarter. SG Americas Securities LLC now owns 17,960 shares of the company’s stock valued at $1,988,000 after buying an additional 889 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on INGR shares. Jefferies Financial Group raised their target price on shares of Ingredion to $145.00 and gave the company a “buy” rating in a research report on Monday, November 19th. Zacks Investment Research upgraded shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Citigroup upgraded shares of Ingredion from a “sell” rating to a “neutral” rating in a research report on Thursday, November 1st. Finally, ValuEngine upgraded shares of Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.50.
Ingredion (NYSE:INGR) last issued its earnings results on Thursday, November 1st. The company reported $1.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.70. Ingredion had a net margin of 7.40% and a return on equity of 17.55%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $2.21 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Ingredion Inc will post 6.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, October 1st were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Friday, September 28th. This is a positive change from Ingredion’s previous quarterly dividend of $0.60. Ingredion’s payout ratio is 32.47%.
In other news, VP Christine M. Castellano sold 37,267 shares of Ingredion stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $105.30, for a total transaction of $3,924,215.10. Following the transaction, the vice president now owns 28,168 shares in the company, valued at $2,966,090.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Barbara A. Klein sold 1,775 shares of Ingredion stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $103.46, for a total transaction of $183,641.50. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
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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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