Chartwell Investment Partners LLC increased its position in shares of Ingredion Inc (NYSE:INGR) by 35.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,980 shares of the company’s stock after purchasing an additional 4,165 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Ingredion were worth $2,234,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of INGR. Bank of Nova Scotia purchased a new stake in Ingredion in the 2nd quarter valued at $1,431,000. Toronto Dominion Bank grew its holdings in Ingredion by 10.6% in the 2nd quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock valued at $113,000 after buying an additional 91 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in Ingredion in the 3rd quarter valued at $422,000. BB&T Corp grew its holdings in Ingredion by 9.2% in the 3rd quarter. BB&T Corp now owns 45,396 shares of the company’s stock valued at $5,476,000 after buying an additional 3,824 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Ingredion by 55.4% in the 3rd quarter. Aperio Group LLC now owns 61,568 shares of the company’s stock valued at $7,428,000 after buying an additional 21,950 shares in the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.
In other news, SVP Martin Sonntag sold 16,602 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $135.01, for a total transaction of $2,241,436.02. Following the completion of the transaction, the senior vice president now directly owns 9,875 shares in the company, valued at approximately $1,333,223.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert J. Stefansic sold 9,000 shares of the stock in a transaction 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. Over the last quarter, insiders have sold 40,541 shares of company stock valued at $5,424,781. Company insiders own 1.92% of the company’s stock.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.67 earnings per share. research analysts predict that Ingredion Inc will post 8.3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, December 29th. Ingredion’s dividend payout ratio is presently 32.52%.
Several analysts have issued reports on INGR shares. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Wednesday, November 8th. Jefferies Group set a $145.00 target price on Ingredion and gave the company a “buy” rating in a report on Sunday, October 29th. Credit Suisse Group restated an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Ingredion in a report on Thursday, November 2nd. Stephens upgraded Ingredion from an “equal weight” rating to an “overweight” rating in a report on Wednesday, November 15th. Finally, BidaskClub upgraded Ingredion from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $146.00.
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Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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