ClariVest Asset Management LLC reduced its stake in shares of Ingredion Incorporated (NYSE:INGR) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,858 shares of the company’s stock after selling 5,110 shares during the quarter. ClariVest Asset Management LLC owned about 0.27% of Ingredion worth $24,864,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new stake in Ingredion during the 4th quarter worth $114,000. Bedel Financial Consulting Inc. acquired a new stake in Ingredion during the 1st quarter worth $119,000. Focused Wealth Management Inc acquired a new stake in Ingredion during the 4th quarter worth $140,000. Meeder Asset Management Inc. raised its stake in Ingredion by 146.4% during the 4th quarter. Meeder Asset Management Inc. now owns 1,109 shares of the company’s stock worth $155,000 after acquiring an additional 659 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Ingredion by 66.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,249 shares of the company’s stock worth $174,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 87.08% of the company’s stock.
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NYSE INGR opened at $112.19 on Wednesday. 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 has a market capitalization of $8.07 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.26 and a beta of 0.76. Ingredion Incorporated has a one year low of $110.49 and a one year high of $112.57.
Ingredion (NYSE:INGR) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Ingredion had a net margin of 8.71% and a return on equity of 19.75%. Ingredion’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. equities analysts anticipate that Ingredion Incorporated will post 8.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 25th. Stockholders of record on Monday, April 2nd were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.14%. Ingredion’s dividend payout ratio (DPR) is 31.17%.
A number of research analysts have commented on INGR shares. ValuEngine lowered shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a research note on Wednesday, January 24th. Credit Suisse Group set a $130.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research note on Friday, May 4th. Citigroup lowered shares of Ingredion from a “buy” rating to a “neutral” rating in a research note on Friday, May 4th. Finally, 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 research note on Friday, May 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $137.00.
Ingredion Company Profile
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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