Raymond James Trust N.A. Buys 130 Shares of Ingredion Incorporated (NYSE:INGR)

Raymond James Trust N.A. increased its stake in shares of Ingredion Incorporated (NYSE:INGRGet Rating) by 3.3% in the third quarter, Holdings Channel.com reports. The fund owned 4,027 shares of the company’s stock after purchasing an additional 130 shares during the period. Raymond James Trust N.A.’s holdings in Ingredion were worth $324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INGR. Millennium Management LLC boosted its position in shares of Ingredion by 943.1% during the second quarter. Millennium Management LLC now owns 628,246 shares of the company’s stock worth $55,386,000 after acquiring an additional 568,015 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Ingredion by 4,100.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock valued at $29,704,000 after purchasing an additional 332,719 shares in the last quarter. Bank of Montreal Can raised its stake in Ingredion by 89.7% during the second quarter. Bank of Montreal Can now owns 334,722 shares of the company’s stock valued at $30,523,000 after purchasing an additional 158,303 shares in the last quarter. State Street Corp raised its stake in Ingredion by 7.1% during the first quarter. State Street Corp now owns 2,364,523 shares of the company’s stock valued at $207,518,000 after purchasing an additional 155,995 shares in the last quarter. Finally, abrdn plc purchased a new stake in Ingredion during the second quarter valued at $13,538,000. Institutional investors own 85.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on INGR. Credit Suisse Group upped their price target on shares of Ingredion from $94.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, November 7th. UBS Group began coverage on shares of Ingredion in a research note on Friday, September 30th. They set a “neutral” rating and a $89.00 price target on the stock. Finally, StockNews.com raised shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Thursday, November 17th.

Ingredion Trading Down 0.2 %

Shares of INGR opened at $100.15 on Monday. Ingredion Incorporated has a twelve month low of $78.81 and a twelve month high of $101.89. The company has a market cap of $6.57 billion, a P/E ratio of 15.13 and a beta of 0.77. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $97.46 and its 200-day simple moving average is $90.65.

Ingredion (NYSE:INGRGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $1.73 earnings per share for the quarter. Ingredion had a net margin of 5.77% and a return on equity of 14.62%. The business had revenue of $2.02 billion for the quarter. As a group, analysts expect that Ingredion Incorporated will post 7.06 EPS for the current year.

Ingredion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 24th. Investors of record on Monday, January 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, December 29th. Ingredion’s dividend payout ratio is presently 42.90%.

Ingredion Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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