Northwestern Mutual Investment Management Company LLC trimmed its position in Ingredion Inc (NYSE:INGR) by 11.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,861 shares of the company’s stock after selling 1,504 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Ingredion were worth $1,123,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC bought a new position in shares of Ingredion during the first quarter valued at approximately $28,000. Capital Investment Advisory Services LLC purchased a new position in shares of Ingredion in the 4th quarter valued at $30,000. Harvest Group Wealth Management LLC purchased a new position in shares of Ingredion in the 1st quarter valued at $36,000. Private Capital Group LLC increased its holdings in shares of Ingredion by 114.1% in the 1st quarter. Private Capital Group LLC now owns 546 shares of the company’s stock valued at $52,000 after acquiring an additional 291 shares during the period. Finally, Kinneret Advisory LLC purchased a new position in Ingredion during the 4th quarter worth $77,000. 89.38% of the stock is currently owned by hedge funds and other institutional investors.
Ingredion stock traded up $1.69 during midday trading on Friday, reaching $82.49. The company’s stock had a trading volume of 897,004 shares, compared to its average volume of 548,554. The stock’s 50-day moving average is $81.25. Ingredion Inc has a fifty-two week low of $75.67 and a fifty-two week high of $113.22. The company has a current ratio of 2.41, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The stock has a market cap of $5.38 billion, a P/E ratio of 11.92 and a beta of 0.82.
The business 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 $0.625 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.03%. Ingredion’s dividend payout ratio (DPR) is presently 36.13%.
Several research firms have weighed in on INGR. Zacks Investment Research upgraded Ingredion from a “sell” rating to a “hold” rating in a research note on Wednesday. TheStreet lowered Ingredion from a “b-” rating to a “c+” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $118.50.
In other Ingredion news, CFO James D. Gray acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $78.37 per share, with a total value of $78,370.00. Following the transaction, the chief financial officer now directly owns 15,222 shares in the company, valued at $1,192,948.14. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.56% of the stock is owned by corporate insiders.
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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