Hsbc Holdings PLC cut its stake in shares of Ingredion Incorporated (NYSE:INGR – Free Report) by 68.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,389 shares of the company’s stock after selling 11,829 shares during the period. Hsbc Holdings PLC’s holdings in Ingredion were worth $607,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in INGR. International Assets Investment Management LLC purchased a new position in shares of Ingredion during the 4th quarter worth approximately $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of Ingredion in the first quarter valued at $33,000. Los Angeles Capital Management LLC acquired a new position in Ingredion during the 4th quarter worth about $36,000. Capital Advisors Ltd. LLC grew its position in Ingredion by 40.5% in the 4th quarter. Capital Advisors Ltd. LLC now owns 354 shares of the company’s stock valued at $39,000 after acquiring an additional 102 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of Ingredion by 83.7% during the first quarter. Root Financial Partners LLC now owns 371 shares of the company’s stock worth $42,000 after purchasing an additional 169 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.
Ingredion Trading Down 1.3%
NYSE:INGR opened at $100.38 on Friday. The stock has a 50-day simple moving average of $100.02 and a 200-day simple moving average of $108.57. The stock has a market cap of $6.33 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.86 and a beta of 0.62. Ingredion Incorporated has a 1 year low of $94.44 and a 1 year high of $132.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.83 and a current ratio of 2.76.
Ingredion Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.3%. Ingredion’s dividend payout ratio (DPR) is presently 31.60%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on INGR shares. Oppenheimer lowered shares of Ingredion from an “outperform” rating to a “market perform” rating in a report on Monday, June 8th. Benchmark reiterated a “buy” rating on shares of Ingredion in a research note on Tuesday, June 9th. Weiss Ratings cut Ingredion from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 8th. Zacks Research raised Ingredion from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, UBS Group restated a “neutral” rating and set a $114.00 target price on shares of Ingredion in a research note on Thursday, May 7th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $122.43.
Ingredion Company Profile
Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.
The company’s product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.
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