Cubist Systematic Strategies LLC raised its position in Ingredion Inc (NYSE:INGR) by 41.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,425 shares of the company’s stock after purchasing an additional 2,461 shares during the period. Cubist Systematic Strategies LLC’s holdings in Ingredion were worth $933,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in Ingredion during the second quarter worth about $153,000. IBM Retirement Fund purchased a new position in shares of Ingredion in the 1st quarter worth about $203,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Ingredion by 42.2% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 1,685 shares of the company’s stock worth $187,000 after purchasing an additional 500 shares during the period. IFM Investors Pty Ltd acquired a new stake in shares of Ingredion in the second quarter valued at about $219,000. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Ingredion in the first quarter valued at about $280,000. 83.60% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on INGR. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Credit Suisse Group lowered Ingredion from an “outperform” rating to a “neutral” rating and set a $130.00 target price for the company. in a research report on Wednesday, July 18th. Stephens reissued a “hold” rating and issued a $110.00 price target on shares of Ingredion in a report on Friday, July 13th. Finally, Citigroup downgraded Ingredion from a “neutral” rating to a “sell” rating in a report on Friday, July 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $131.60.
Ingredion (NYSE:INGR) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.01. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.47 billion. Ingredion had a return on equity of 18.91% and a net margin of 8.40%. Ingredion’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts forecast that Ingredion Inc will post 7.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, October 1st will be given a dividend of $0.625 per share. This is a boost from Ingredion’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, September 28th. This represents a $2.50 dividend on an annualized basis and a yield of 2.48%. Ingredion’s dividend payout ratio (DPR) is presently 32.47%.
Ingredion Company 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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