LSV Asset Management Cuts Stake in Ingredion Inc (INGR)
LSV Asset Management lessened its stake in shares of Ingredion Inc (NYSE:INGR) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,476,333 shares of the company’s stock after selling 15,256 shares during the quarter. LSV Asset Management owned about 3.50% of Ingredion worth $226,336,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its stake in Ingredion by 9.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,430 shares of the company’s stock worth $222,000 after purchasing an additional 200 shares in the last quarter. Redpoint Investment Management Pty Ltd increased its holdings in Ingredion by 71.6% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 4,500 shares of the company’s stock valued at $411,000 after buying an additional 1,878 shares during the period. Capital Investment Advisory Services LLC bought a new position in Ingredion in the 4th quarter valued at about $30,000. BB&T Securities LLC increased its holdings in Ingredion by 8.2% in the 4th quarter. BB&T Securities LLC now owns 20,331 shares of the company’s stock valued at $1,858,000 after buying an additional 1,543 shares during the period. Finally, IndexIQ Advisors LLC increased its holdings in Ingredion by 10.8% in the 4th quarter. IndexIQ Advisors LLC now owns 4,680 shares of the company’s stock valued at $428,000 after buying an additional 457 shares during the period. Institutional investors own 92.39% of the company’s stock.
Several research firms have commented on INGR. Citigroup raised shares of Ingredion from a “sell” rating to a “neutral” rating in a report on Thursday, November 1st. Vertical Group lowered shares of Ingredion from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research lowered shares of Ingredion from a “hold” rating to a “sell” rating in a report on Tuesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Ingredion to $145.00 and gave the company a “buy” rating in a report on Monday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $117.80.
INGR stock opened at $91.85 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.26. Ingredion Inc has a 12 month low of $87.02 and a 12 month high of $135.40. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.16 and a beta of 0.73.
Ingredion (NYSE:INGR) last released its earnings results on Tuesday, February 5th. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Ingredion had a net margin of 7.31% and a return on equity of 17.77%. Ingredion’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. Equities research analysts forecast that Ingredion Inc will post 7.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Wednesday, January 2nd were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Monday, December 31st. Ingredion’s dividend payout ratio is 36.13%.
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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