Federated Investors Inc. PA Lowers Position in Ingredion Inc (NYSE:INGR)

Federated Investors Inc. PA lessened its holdings in shares of Ingredion Inc (NYSE:INGR) by 5.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 425,341 shares of the company’s stock after selling 26,069 shares during the period. Federated Investors Inc. PA owned 0.64% of Ingredion worth $40,276,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its position in shares of Ingredion by 10,975.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,539,107 shares of the company’s stock worth $50,000 after purchasing an additional 4,498,125 shares during the period. Norges Bank acquired a new stake in shares of Ingredion during the fourth quarter worth about $58,054,000. FMR LLC raised its position in shares of Ingredion by 36.5% during the fourth quarter. FMR LLC now owns 2,020,943 shares of the company’s stock worth $184,714,000 after purchasing an additional 540,698 shares during the period. Bank of New York Mellon Corp raised its position in shares of Ingredion by 26.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,085,995 shares of the company’s stock worth $190,659,000 after purchasing an additional 437,284 shares during the period. Finally, BlackRock Inc. raised its position in shares of Ingredion by 4.5% during the fourth quarter. BlackRock Inc. now owns 7,702,940 shares of the company’s stock worth $704,050,000 after purchasing an additional 334,715 shares during the period. Institutional investors and hedge funds own 89.38% of the company’s stock.

A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered Ingredion from a “hold” rating to a “sell” rating in a research report on Thursday, June 6th. TheStreet lowered Ingredion from a “b-” rating to a “c+” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $118.50.

In other Ingredion news, CFO James D. Gray bought 1,000 shares of Ingredion stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $78.37 per share, for a total transaction of $78,370.00. Following the purchase, the chief financial officer now owns 15,222 shares of the company’s stock, valued at approximately $1,192,948.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

INGR stock traded up $1.69 during mid-day trading on Friday, reaching $82.49. The company had a trading volume of 897,004 shares, compared to its average volume of 548,554. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.41 and a quick ratio of 1.45. The stock’s 50 day moving average is $81.25. The company has a market capitalization of $5.38 billion, a P/E ratio of 11.92 and a beta of 0.82. Ingredion Inc has a 52 week low of $75.67 and a 52 week high of $113.22.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.12). Ingredion had a net margin of 6.70% and a return on equity of 17.18%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities analysts expect that Ingredion Inc will post 6.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, June 28th. This represents a $2.50 annualized dividend and a dividend yield of 3.03%. Ingredion’s dividend payout ratio is currently 36.13%.

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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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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