Meadow Creek Investment Management LLC bought a new stake in shares of Ingredion Inc (NYSE:INGR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,172 shares of the company’s stock, valued at approximately $583,000.
A number of other institutional investors have also recently made changes to their positions in INGR. Sei Investments Co. boosted its holdings in Ingredion by 13.7% during the 3rd quarter. Sei Investments Co. now owns 47,877 shares of the company’s stock valued at $5,776,000 after acquiring an additional 5,781 shares during the period. New York State Common Retirement Fund boosted its holdings in Ingredion by 21.9% during the 3rd quarter. New York State Common Retirement Fund now owns 311,983 shares of the company’s stock valued at $37,638,000 after acquiring an additional 56,079 shares during the period. Toronto Dominion Bank boosted its holdings in Ingredion by 225.2% during the 3rd quarter. Toronto Dominion Bank now owns 3,096 shares of the company’s stock valued at $373,000 after acquiring an additional 2,144 shares during the period. Advisor Group Inc. boosted its stake in shares of Ingredion by 31.6% in the 3rd quarter. Advisor Group Inc. now owns 3,897 shares of the company’s stock valued at $471,000 after buying an additional 936 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of Ingredion in the 3rd quarter valued at about $298,000. Institutional investors own 86.52% of the company’s stock.
Several equities analysts have recently issued reports on the company. ValuEngine upgraded Ingredion from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research note on Wednesday, January 17th. Finally, Credit Suisse Group set a $156.00 price objective on Ingredion and gave the company a “buy” rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $146.00.
In related news, SVP Martin Sonntag sold 14,939 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $135.00, for a total transaction 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 $1,333,125. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert J. Stefansic sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $129.62, for a total value 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. 1.92% of the stock is owned by company insiders.
Shares of INGR stock opened at $126.74 on Friday. The firm has a market capitalization of $9,282.99, a P/E ratio of 17.93, a P/E/G ratio of 1.41 and a beta of 0.79. Ingredion Inc has a 52 week low of $113.42 and a 52 week high of $146.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.66 and a current ratio of 2.52.
Ingredion (NYSE:INGR) last posted its 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). The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Ingredion had a return on equity of 20.42% and a net margin of 8.63%. Ingredion’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. analysts forecast that Ingredion Inc will post 8.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, April 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, March 29th. Ingredion’s payout ratio is 33.95%.
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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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