Strategic Investment Advisors MI purchased a new position in Ingredion Incorporated (NYSE:INGR – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,208 shares of the company’s stock, valued at approximately $585,000.
Several other large investors have also recently made changes to their positions in INGR. Integrated Wealth Concepts LLC raised its stake in Ingredion by 32.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,082 shares of the company’s stock valued at $281,000 after purchasing an additional 514 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ingredion by 63.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,694 shares of the company’s stock worth $499,000 after purchasing an additional 1,440 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Ingredion by 9.0% during the first quarter. NewEdge Advisors LLC now owns 9,687 shares of the company’s stock worth $1,310,000 after buying an additional 797 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 buying an additional 5,255 shares in the last quarter. Finally, Focus Partners Wealth raised its position in shares of Ingredion by 5.6% in the first quarter. Focus Partners Wealth now owns 3,636 shares of the company’s stock valued at $492,000 after buying an additional 192 shares during the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion Price Performance
Shares of INGR stock opened at $100.38 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.76 and a quick ratio of 1.83. The company has a market capitalization of $6.33 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.86 and a beta of 0.62. The firm’s 50-day moving average is $100.02 and its two-hundred day moving average is $108.57. Ingredion Incorporated has a 12 month low of $94.44 and a 12 month high of $132.88.
Ingredion Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Wednesday, July 1st were issued a $0.82 dividend. The ex-dividend date 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 is currently 31.60%.
Wall Street Analysts Forecast Growth
INGR has been the topic of several research reports. Oppenheimer downgraded shares of Ingredion from an “outperform” rating to a “market perform” rating in a research note on Monday, June 8th. Zacks Research raised shares of Ingredion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Ingredion from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Barclays decreased their target price on shares of Ingredion from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Finally, Benchmark restated 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 and eight have assigned a Hold rating to the company. According to MarketBeat, Ingredion currently has an average rating of “Hold” and an average target price of $122.43.
Check Out Our Latest Stock Report on Ingredion
About Ingredion
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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