Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in Ingredion Incorporated (NYSE:INGR)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Ingredion Incorporated (NYSE:INGRGet Rating) by 24.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,308 shares of the company’s stock after selling 6,094 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ingredion were worth $1,702,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in Ingredion during the first quarter worth about $35,000. LSV Asset Management increased its holdings in Ingredion by 1.0% during the first quarter. LSV Asset Management now owns 2,693,332 shares of the company’s stock worth $234,724,000 after buying an additional 25,564 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Ingredion by 13.4% during the second quarter. Treasurer of the State of North Carolina now owns 28,016 shares of the company’s stock worth $2,470,000 after purchasing an additional 3,321 shares during the period. Illinois Municipal Retirement Fund boosted its position in Ingredion by 69.3% during the second quarter. Illinois Municipal Retirement Fund now owns 35,356 shares of the company’s stock worth $3,117,000 after purchasing an additional 14,476 shares during the period. Finally, Verity Asset Management Inc. bought a new position in Ingredion during the first quarter worth about $132,000. Hedge funds and other institutional investors own 88.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on INGR. UBS Group began coverage on shares of Ingredion in a research report on Friday, September 30th. They set a “neutral” rating and a $89.00 target price for the company. Credit Suisse Group raised their price objective on shares of Ingredion from $94.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, November 7th. Finally, StockNews.com upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Thursday.

Ingredion Trading Up 1.4 %

Shares of Ingredion stock opened at $95.34 on Monday. Ingredion Incorporated has a 1 year low of $78.81 and a 1 year high of $101.89. The firm has a market cap of $6.25 billion, a PE ratio of 14.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.68 and a quick ratio of 0.91. The company has a 50 day simple moving average of $85.90 and a two-hundred day simple moving average of $88.36.

Ingredion Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Thursday, October 6th were given a dividend of $0.71 per share. The ex-dividend date was Wednesday, October 5th. This is a positive change from Ingredion’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 2.98%. Ingredion’s payout ratio is presently 42.90%.

Ingredion Company Profile

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Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. The company offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids, as well as food-grade and industrial starches, biomaterials, and nutrition ingredients.

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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