Port Capital LLC lifted its position in shares of Ingredion Inc (NYSE:INGR) by 108.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,595 shares of the company’s stock after purchasing an additional 56,050 shares during the period. Ingredion accounts for approximately 1.6% of Port Capital LLC’s investment portfolio, making the stock its 22nd biggest holding. Port Capital LLC owned approximately 0.15% of Ingredion worth $11,911,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bedel Financial Consulting Inc. bought a new position in Ingredion during the 1st quarter worth $119,000. IBM Retirement Fund bought a new position in Ingredion during the 1st quarter worth $203,000. BKS Advisors LLC bought a new position in Ingredion during the 1st quarter worth $206,000. MML Investors Services LLC bought a new position in Ingredion during the 4th quarter worth $210,000. Finally, IFM Investors Pty Ltd bought a new position in Ingredion during the 2nd quarter worth $219,000. Institutional investors own 85.62% of the company’s stock.
Shares of INGR stock traded down $2.19 during trading hours on Wednesday, reaching $111.01. The company’s stock had a trading volume of 378,500 shares, compared to its average volume of 461,620. The company has a market cap of $8.07 billion, a PE ratio of 14.50, a P/E/G ratio of 1.29 and a beta of 0.74. Ingredion Inc has a fifty-two week low of $107.77 and a fifty-two week high of $146.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.59 and a current ratio of 2.52.
Ingredion (NYSE:INGR) last issued its earnings results on Thursday, May 3rd. The company reported $1.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Ingredion had a return on equity of 19.75% and a net margin of 8.71%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 EPS. equities analysts predict that Ingredion Inc will post 7.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Monday, July 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, June 29th. Ingredion’s dividend payout ratio is presently 31.17%.
In other Ingredion news, Chairman Ilene S. Gordon sold 28,141 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $111.33, for a total value of $3,132,937.53. Following the sale, the chairman now owns 252,255 shares of the company’s stock, valued at approximately $28,083,549.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.
A number of research firms have commented on INGR. Stephens lowered Ingredion from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 22nd. ValuEngine lowered Ingredion from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Credit Suisse Group set a $130.00 price objective on Ingredion and gave the stock a “buy” rating in a research note on Friday, May 4th. Finally, Citigroup lowered Ingredion from a “buy” rating to a “neutral” rating in a research note on Friday, May 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $137.00.
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.
Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.