Shelton Capital Management purchased a new position in shares of Ingredion Incorporated (NYSE:INGR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,423 shares of the company’s stock, valued at approximately $646,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Ingredion by 1,655.4% in the 1st quarter. BlackRock Inc. now owns 8,284,372 shares of the company’s stock valued at $997,686,000 after purchasing an additional 7,812,440 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ingredion by 6,380.0% in the 2nd quarter. Victory Capital Management Inc. now owns 745,917 shares of the company’s stock valued at $88,921,000 after purchasing an additional 734,406 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Ingredion by 244.5% in the 2nd quarter. Schroder Investment Management Group now owns 675,062 shares of the company’s stock valued at $79,319,000 after purchasing an additional 479,087 shares during the last quarter. FMR LLC lifted its holdings in shares of Ingredion by 108.7% in the 2nd quarter. FMR LLC now owns 543,986 shares of the company’s stock valued at $64,849,000 after purchasing an additional 283,304 shares during the last quarter. Finally, PGGM Investments purchased a new stake in shares of Ingredion in the 2nd quarter valued at about $31,600,000. 83.87% of the stock is owned by institutional investors.
Several research firms have commented on INGR. BidaskClub downgraded Ingredion from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. BMO Capital Markets reiterated a “hold” rating and set a $125.00 target price on shares of Ingredion in a research report on Friday, September 29th. Finally, Zacks Investment Research cut Ingredion from a “buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a research report on Wednesday, September 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $140.00.
Ingredion (NYSE:INGR) last issued its earnings results on Tuesday, August 1st. The company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.03. Ingredion had a net margin of 8.35% and a return on equity of 20.84%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, October 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, September 29th. This is an increase from Ingredion’s previous quarterly dividend of $0.50. Ingredion’s dividend payout ratio is presently 36.09%.
In other news, VP James P. Zallie sold 21,862 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the sale, the vice president now owns 29,306 shares of the company’s stock, valued at $3,664,422.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James P. Zallie sold 3,048 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $125.00, for a total transaction of $381,000.00. The disclosure for this sale can be found here. Insiders sold 52,882 shares of company stock valued at $6,622,034 in the last ninety days. Insiders own 1.92% of the company’s stock.
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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