BNP Paribas Arbitrage SA increased its holdings in Ingredion Inc (NYSE:INGR) by 34.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,299 shares of the company’s stock after purchasing an additional 30,969 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.17% of Ingredion worth $15,638,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its position in Ingredion by 3.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 13,430 shares of the company’s stock valued at $1,878,000 after acquiring an additional 455 shares during the last quarter. Uncommon Cents Investing LLC bought a new stake in Ingredion during the fourth quarter valued at $3,065,000. Pzena Investment Management LLC boosted its position in Ingredion by 15.2% during the fourth quarter. Pzena Investment Management LLC now owns 3,495 shares of the company’s stock valued at $489,000 after acquiring an additional 462 shares during the last quarter. BlackRock Inc. boosted its position in Ingredion by 0.3% during the first quarter. BlackRock Inc. now owns 7,422,432 shares of the company’s stock valued at $956,900,000 after acquiring an additional 21,896 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Ingredion by 934.0% during the fourth quarter. Teacher Retirement System of Texas now owns 25,571 shares of the company’s stock valued at $3,575,000 after acquiring an additional 23,098 shares during the last quarter. 85.62% of the stock is currently owned by institutional investors.
Shares of NYSE INGR opened at $113.13 on Friday. Ingredion Inc has a 1-year low of $107.77 and a 1-year high of $146.28. The stock has a market cap of $8.16 billion, a PE ratio of 14.69, a P/E/G ratio of 1.28 and a beta of 0.75. The company has a current ratio of 2.52, a quick ratio of 1.59 and a debt-to-equity ratio of 0.49.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Investors of record on Monday, July 2nd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 29th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.12%. Ingredion’s dividend payout ratio is presently 31.17%.
In related news, Chairman Ilene S. Gordon sold 28,141 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $111.33, for a total value of $3,132,937.53. Following the sale, the chairman now owns 252,255 shares in the company, valued at approximately $28,083,549.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.
A number of analysts have commented on INGR shares. ValuEngine raised shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research raised shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Thursday, April 5th. Citigroup lowered shares of Ingredion from a “buy” rating to a “neutral” rating in a report on Friday, May 4th. BMO Capital Markets dropped their price objective on shares of Ingredion from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Friday, May 4th. Finally, Credit Suisse Group set a $130.00 price objective on shares of Ingredion and gave the company a “buy” rating in a report on Friday, May 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $137.00.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. The company operates through four segments: North America, South America, Asia Pacific and Europe, and Middle East and Africa. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, glucose and syrup solids, as well as food-grade and industrial starches, and biomaterials.
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