Benedict Financial Advisors Inc. raised its position in shares of Ingredion Incorporated (NYSE:INGR) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,050 shares of the company’s stock after buying an additional 42 shares during the period. Benedict Financial Advisors Inc.’s holdings in Ingredion were worth $494,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. BKD Wealth Advisors LLC increased its stake in Ingredion by 6.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,457 shares of the company’s stock worth $293,000 after buying an additional 141 shares during the last quarter. Assetmark Inc. increased its stake in Ingredion by 105.3% in the first quarter. Assetmark Inc. now owns 975 shares of the company’s stock worth $118,000 after buying an additional 500 shares during the last quarter. Sit Investment Associates Inc. increased its stake in Ingredion by 287.5% in the first quarter. Sit Investment Associates Inc. now owns 4,650 shares of the company’s stock worth $560,000 after buying an additional 3,450 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Ingredion by 9.2% in the first quarter. Canada Pension Plan Investment Board now owns 286,595 shares of the company’s stock worth $34,515,000 after buying an additional 24,100 shares during the last quarter. Finally, Swiss National Bank increased its stake in Ingredion by 28.8% in the first quarter. Swiss National Bank now owns 256,600 shares of the company’s stock worth $30,902,000 after buying an additional 57,400 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Shares of Ingredion Incorporated (INGR) traded up 0.35% during mid-day trading on Monday, reaching $122.37. The company’s stock had a trading volume of 313,157 shares. The company has a market cap of $8.77 billion, a PE ratio of 18.40 and a beta of 0.60. Ingredion Incorporated has a 52-week low of $113.07 and a 52-week high of $140.00. The company has a 50-day moving average price of $119.37 and a 200 day moving average price of $120.10.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.03. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. Equities analysts expect that Ingredion Incorporated will post $7.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, June 28th. Ingredion’s payout ratio is 30.08%.
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INGR has been the subject of a number of recent research reports. Zacks Investment Research upgraded Ingredion from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research report on Friday. Jefferies Group LLC restated a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research report on Wednesday, April 26th. BMO Capital Markets restated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a research report on Tuesday, May 16th. Finally, BidaskClub upgraded Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Ingredion currently has an average rating of “Hold” and an average target price of $140.50.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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