Shell Asset Management Co. reduced its position in shares of Ingredion Inc (NYSE:INGR) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,906 shares of the company’s stock after selling 2,906 shares during the quarter. Shell Asset Management Co. owned 0.12% of Ingredion worth $6,108,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Northwestern Mutual Investment Management Company LLC raised its stake in Ingredion by 21.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 23,205 shares of the company’s stock valued at $1,752,000 after purchasing an additional 4,136 shares during the period. Wrapmanager Inc. raised its stake in Ingredion by 15.5% during the 1st quarter. Wrapmanager Inc. now owns 3,339 shares of the company’s stock valued at $252,000 after purchasing an additional 448 shares during the period. Commerce Bank raised its stake in Ingredion by 33.0% during the 1st quarter. Commerce Bank now owns 4,949 shares of the company’s stock valued at $373,000 after purchasing an additional 1,228 shares during the period. CWM Advisors LLC acquired a new stake in Ingredion during the 1st quarter valued at $37,000. Finally, Alberta Investment Management Corp raised its stake in Ingredion by 64.1% during the 1st quarter. Alberta Investment Management Corp now owns 40,200 shares of the company’s stock valued at $3,035,000 after purchasing an additional 15,700 shares during the period. 88.13% of the stock is currently owned by institutional investors.
Ingredion stock traded up $0.73 during mid-day trading on Friday, hitting $79.54. 328,914 shares of the company’s stock were exchanged, compared to its average volume of 604,203. The company has a current ratio of 2.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76. The stock has a market cap of $5.28 billion, a P/E ratio of 13.83 and a beta of 0.77. Ingredion Inc has a 1-year low of $59.11 and a 1-year high of $99.51. The stock has a 50 day moving average of $79.99 and a two-hundred day moving average of $84.83.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, June 30th. Ingredion’s payout ratio is 37.89%.
In other Ingredion news, Director Stephan B. Tanda bought 985 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $81.04 per share, with a total value of $79,824.40. Following the completion of the transaction, the director now directly owns 2,318 shares of the company’s stock, valued at approximately $187,850.72. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.15% of the company’s stock.
A number of equities analysts have recently weighed in on INGR shares. Credit Suisse Group dropped their price target on shares of Ingredion from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. TheStreet downgraded shares of Ingredion from a “b” rating to a “c+” rating in a research note on Wednesday, March 11th. ValuEngine downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Goldman Sachs Group raised shares of Ingredion from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $79.00 to $74.00 in a research note on Thursday, March 26th. Finally, BMO Capital Markets dropped their price target on shares of Ingredion from $104.00 to $93.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Ingredion currently has an average rating of “Hold” and an average price target of $92.67.
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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