Qube Research & Technologies Ltd Trims Position in Ingredion Incorporated (NYSE:INGR)

Qube Research & Technologies Ltd decreased its position in shares of Ingredion Incorporated (NYSE:INGR) by 38.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 28,945 shares of the company’s stock after selling 17,793 shares during the period. Qube Research & Technologies Ltd’s holdings in Ingredion were worth $2,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in INGR. Teacher Retirement System of Texas raised its stake in Ingredion by 22.4% during the first quarter. Teacher Retirement System of Texas now owns 7,511 shares of the company’s stock worth $675,000 after purchasing an additional 1,374 shares during the period. UBS Group AG raised its stake in Ingredion by 23.0% during the first quarter. UBS Group AG now owns 205,062 shares of the company’s stock worth $18,439,000 after purchasing an additional 38,355 shares during the period. Panagora Asset Management Inc. increased its position in shares of Ingredion by 13.6% in the first quarter. Panagora Asset Management Inc. now owns 10,331 shares of the company’s stock worth $929,000 after acquiring an additional 1,233 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ingredion by 36.2% in the first quarter. JPMorgan Chase & Co. now owns 463,594 shares of the company’s stock worth $41,686,000 after acquiring an additional 123,165 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Ingredion by 77.4% in the first quarter. Prudential Financial Inc. now owns 52,162 shares of the company’s stock worth $4,690,000 after acquiring an additional 22,755 shares in the last quarter. 84.87% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on INGR. TheStreet raised shares of Ingredion from a “c+” rating to a “b” rating in a research report on Tuesday, August 3rd. Zacks Investment Research downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Tuesday, October 5th.

NYSE INGR opened at $94.55 on Thursday. The company’s fifty day moving average price is $88.73 and its two-hundred day moving average price is $90.93. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.55 and a quick ratio of 1.60. Ingredion Incorporated has a 12 month low of $68.71 and a 12 month high of $98.05. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 46.81 and a beta of 0.82.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.46. Ingredion had a net margin of 2.15% and a return on equity of 17.89%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. As a group, analysts anticipate that Ingredion Incorporated will post 6.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 25th. Investors of record on Monday, October 4th will be given a $0.65 dividend. The ex-dividend date is Friday, October 1st. This is an increase from Ingredion’s previous quarterly dividend of $0.64. This represents a $2.60 annualized dividend and a yield of 2.75%. Ingredion’s dividend payout ratio (DPR) is currently 41.73%.

Ingredion Company Profile

Ingredion, Inc manufactures and sells sweetener, starches, nutrition ingredients, and biomaterial solutions derived from the wet milling and processing of corn and other starch based materials. Its activities include turning corn, tapioca, potatoes and other vegetables and fruits into value added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, and other industries.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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