Benedict Financial Advisors Inc. increased its stake 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 institutional investor 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 SEC filing.
Other hedge funds also recently made changes to their positions in the company. National Pension Service increased its position in Ingredion by 108.9% in the second quarter. National Pension Service now owns 894 shares of the company’s stock worth $105,000 after buying an additional 466 shares during the period. Assetmark Inc. increased its position 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 period. Penserra Capital Management LLC boosted its stake in Ingredion by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,242 shares of the company’s stock worth $149,000 after buying an additional 108 shares in the last quarter. Global X Management Co. LLC boosted its stake in Ingredion by 30.0% in the first quarter. Global X Management Co. LLC now owns 1,325 shares of the company’s stock worth $160,000 after buying an additional 306 shares in the last quarter. Finally, WFG Advisors LP boosted its stake in Ingredion by 0.4% in the first quarter. WFG Advisors LP now owns 1,367 shares of the company’s stock worth $165,000 after buying an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.
Ingredion Incorporated (NYSE:INGR) opened at 123.23 on Tuesday. The company has a market cap of $8.84 billion, a P/E ratio of 18.53 and a beta of 0.60. The stock has a 50 day moving average price of $120.39 and a 200 day moving average price of $119.89. Ingredion Incorporated has a 1-year low of $113.07 and a 1-year high of $140.00.
Ingredion (NYSE:INGR) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.03. Ingredion had a return on equity of 20.84% and a net margin of 8.35%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $1.53 earnings per share. The business’s revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Ingredion Incorporated will post $7.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, June 28th. Ingredion’s dividend payout ratio is currently 30.08%.
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INGR has been the topic of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $145.00 target price on shares of Ingredion in a research note on Wednesday, April 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $125.00 price objective on shares of Ingredion in a research report on Tuesday, May 16th. BidaskClub raised Ingredion from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research raised Ingredion from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus 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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