UNIVEST FINANCIAL Corp bought a new stake in Ingredion Incorporated (NYSE:INGR – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 13,879 shares of the company’s stock, valued at approximately $1,315,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its holdings in Ingredion by 32.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,082 shares of the company’s stock worth $281,000 after buying an additional 514 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ingredion by 63.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,694 shares of the company’s stock worth $499,000 after acquiring an additional 1,440 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Ingredion by 9.0% in the first quarter. NewEdge Advisors LLC now owns 9,687 shares of the company’s stock worth $1,310,000 after acquiring an additional 797 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ingredion by 5.5% during the first quarter. Goldman Sachs Group Inc. now owns 101,414 shares of the company’s stock worth $13,712,000 after acquiring an additional 5,255 shares during the period. Finally, Focus Partners Wealth increased its position in shares of Ingredion by 5.6% during the first quarter. Focus Partners Wealth now owns 3,636 shares of the company’s stock worth $492,000 after acquiring an additional 192 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion Stock Performance
NYSE:INGR opened at $103.58 on Tuesday. Ingredion Incorporated has a 12 month low of $94.44 and a 12 month high of $130.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.80 and a quick ratio of 1.92. The firm has a market capitalization of $6.53 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.62. The business’s fifty day moving average price is $100.44 and its 200 day moving average price is $107.56.
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 3.2%. Ingredion’s dividend payout ratio (DPR) is presently 35.77%.
Insiders Place Their Bets
In other news, Director David B. Fischer sold 1,662 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $102.31, for a total transaction of $170,039.22. Following the completion of the sale, the director owned 19,930 shares in the company, valued at approximately $2,039,038.30. The trade was a 7.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on INGR. Barclays decreased their target price on Ingredion from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Wednesday, August 5th. Benchmark reaffirmed a “buy” rating on shares of Ingredion in a research report on Tuesday, June 9th. Oppenheimer cut Ingredion from an “outperform” rating to a “market perform” rating in a research note on Monday, June 8th. Weiss Ratings downgraded Ingredion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 8th. Finally, Zacks Research raised shares of Ingredion from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $121.29.
Check Out Our Latest Analysis on Ingredion
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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