Ingredion Inc (NYSE:INGR) Shares Acquired by Lapides Asset Management LLC

Lapides Asset Management LLC grew its stake in Ingredion Inc (NYSE:INGR) by 91.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,900 shares of the company’s stock after buying an additional 20,500 shares during the period. Ingredion accounts for 2.1% of Lapides Asset Management LLC’s investment portfolio, making the stock its 18th largest holding. Lapides Asset Management LLC owned about 0.06% of Ingredion worth $3,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of INGR. CWM Advisors LLC acquired a new position in shares of Ingredion in the 1st quarter valued at $37,000. Bartlett & Co. LLC acquired a new position in shares of Ingredion in the 1st quarter valued at $40,000. Heritage Wealth Advisors boosted its holdings in shares of Ingredion by 552.7% in the 2nd quarter. Heritage Wealth Advisors now owns 3,407 shares of the company’s stock valued at $43,000 after buying an additional 2,885 shares in the last quarter. Cornerstone Advisors Inc. boosted its holdings in shares of Ingredion by 83.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 549 shares of the company’s stock valued at $46,000 after buying an additional 250 shares in the last quarter. Finally, First Quadrant L P CA acquired a new position in shares of Ingredion in the 2nd quarter valued at $104,000. Institutional investors and hedge funds own 85.15% of the company’s stock.

Ingredion stock traded down $1.72 during trading hours on Friday, reaching $86.50. 340,381 shares of the stock were exchanged, compared to its average volume of 342,333. The stock has a market cap of $5.79 billion, a P/E ratio of 15.04 and a beta of 0.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 2.34. Ingredion Inc has a 52-week low of $59.11 and a 52-week high of $99.51. The firm’s 50 day moving average is $84.00 and its 200 day moving average is $83.74.

Ingredion (NYSE:INGR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.07. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.44 billion. Ingredion had a net margin of 6.49% and a return on equity of 17.07%. Ingredion’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. Equities research analysts expect that Ingredion Inc will post 6.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.52 dividend on an annualized basis and a yield of 2.91%. Ingredion’s payout ratio is currently 37.89%.

Several research analysts have recently issued reports on INGR shares. Berenberg Bank assumed coverage on shares of Ingredion in a report on Thursday, July 16th. They issued a “buy” rating and a $105.00 target price for the company. BMO Capital Markets decreased their price target on shares of Ingredion from $104.00 to $93.00 and set a “market perform” rating for the company in a research note on Wednesday, May 6th. Credit Suisse Group decreased their price target on shares of Ingredion from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Zacks Investment Research cut shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Wednesday, July 1st. Finally, ValuEngine cut shares of Ingredion from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Ingredion has an average rating of “Hold” and an average price target of $94.43.

In related news, Director Stephan B. Tanda purchased 985 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $81.04 per share, for a total transaction of $79,824.40. Following the acquisition, the director now directly owns 2,318 shares of the company’s stock, valued at approximately $187,850.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.15% of the stock is currently owned by corporate insiders.

Ingredion 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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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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