Pflug Koory LLC lifted its holdings in shares of Ingredion Inc (NYSE:INGR) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,995 shares of the company’s stock after buying an additional 162 shares during the period. Pflug Koory LLC’s holdings in Ingredion were worth $473,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Gateway Investment Advisers LLC grew its holdings in shares of Ingredion by 2.4% in the 4th quarter. Gateway Investment Advisers LLC now owns 69,826 shares of the company’s stock worth $6,382,000 after acquiring an additional 1,618 shares during the period. South Texas Money Management Ltd. grew its holdings in Ingredion by 14.8% during the 4th quarter. South Texas Money Management Ltd. now owns 257,857 shares of the company’s stock valued at $23,568,000 after buying an additional 33,230 shares during the last quarter. Uncommon Cents Investing LLC grew its holdings in Ingredion by 11.0% during the 4th quarter. Uncommon Cents Investing LLC now owns 23,010 shares of the company’s stock valued at $2,103,000 after buying an additional 2,280 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ingredion by 10.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 585,769 shares of the company’s stock valued at $61,481,000 after buying an additional 54,662 shares during the last quarter. Finally, Lido Advisors LLC grew its holdings in Ingredion by 32.8% during the 4th quarter. Lido Advisors LLC now owns 3,121 shares of the company’s stock valued at $287,000 after buying an additional 770 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.
Shares of INGR traded up $0.66 during trading hours on Thursday, hitting $94.92. The stock had a trading volume of 267,930 shares, compared to its average volume of 540,860. The company has a current ratio of 2.26, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $6.33 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. Ingredion Inc has a 12-month low of $87.02 and a 12-month high of $131.99.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, April 1st will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.63%. The ex-dividend date is Friday, March 29th. Ingredion’s dividend payout ratio (DPR) is presently 36.13%.
A number of brokerages have commented on INGR. Zacks Investment Research cut Ingredion from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Vertical Group cut Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine cut Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Seaport Global Securities began coverage on Ingredion in a report on Thursday, February 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Ingredion has an average rating of “Hold” and a consensus target price of $117.80.
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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