Wipfli Financial Advisors LLC acquired a new position in Ingredion Incorporated (NYSE:INGR – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 410 shares of the company’s stock, valued at approximately $33,000.
A number of other institutional investors and hedge funds have also modified their holdings of INGR. SeaCrest Wealth Management LLC acquired a new stake in shares of Ingredion in the second quarter worth $26,000. New Century Advisors LLC lifted its stake in shares of Ingredion by 84.4% in the second quarter. New Century Advisors LLC now owns 461 shares of the company’s stock worth $41,000 after buying an additional 211 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of Ingredion in the second quarter worth $51,000. Eagle Bay Advisors LLC acquired a new stake in shares of Ingredion in the second quarter worth $55,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Ingredion in the first quarter worth $57,000. 85.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently weighed in on INGR shares. Stephens upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $100.00 to $120.00 in a research note on Tuesday. 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 on the stock. StockNews.com raised shares of Ingredion from a “hold” rating to a “buy” rating in a research report on Thursday, November 17th. Finally, Credit Suisse Group boosted their target price on shares of Ingredion from $94.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, November 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Ingredion currently has an average rating of “Moderate Buy” and a consensus price target of $103.00.
Ingredion Trading Down 2.0 %
Ingredion (NYSE:INGR – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $1.73 earnings per share (EPS) for the quarter. The firm had revenue of $2.02 billion for the quarter. Ingredion had a net margin of 5.77% and a return on equity of 14.62%. As a group, sell-side analysts predict that Ingredion Incorporated will post 7.06 EPS for the current year.
Ingredion Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Monday, January 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, December 29th. Ingredion’s dividend payout ratio (DPR) is presently 42.90%.
Ingredion Company Profile
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.
- Get a free copy of the StockNews.com research report on Ingredion (INGR)
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