MQS Management LLC acquired a new position in Ingredion Incorporated (NYSE:INGR – Free Report) in the 1st quarter, HoldingsChannel reports. The firm acquired 5,711 shares of the company’s stock, valued at approximately $643,000.
Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in Ingredion during the 4th quarter worth $30,000. GHP Investment Advisors Inc. purchased a new position in Ingredion during the first quarter worth about $33,000. Los Angeles Capital Management LLC purchased a new position in Ingredion during the fourth 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 worth $39,000 after purchasing an additional 102 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Ingredion by 166.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Ingredion Price Performance
Shares of NYSE INGR opened at $94.83 on Wednesday. The stock has a fifty day simple moving average of $103.48 and a two-hundred day simple moving average of $110.33. Ingredion Incorporated has a 1-year low of $94.44 and a 1-year high of $138.40. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60. The company has a current ratio of 2.76, a quick ratio of 1.83 and a debt-to-equity ratio of 0.40.
Ingredion Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Wednesday, July 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, July 1st. Ingredion’s payout ratio is currently 31.60%.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. UBS Group reissued a “neutral” rating and set a $114.00 target price on shares of Ingredion in a research report on Thursday, May 7th. Barclays cut their price objective on Ingredion from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Ingredion in a research note on Wednesday, June 24th. Zacks Research cut Ingredion from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, Benchmark reissued a “buy” rating on shares of Ingredion in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.43.
Check Out Our Latest Report on Ingredion
Ingredion 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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