Raymond James Financial Services Advisors Inc. lowered its holdings in Ingredion Incorporated (NYSE:INGR – Get Rating) by 42.1% in the third quarter, Holdings Channel reports. The firm owned 12,615 shares of the company’s stock after selling 9,185 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ingredion were worth $1,016,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Ingredion by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,897,688 shares of the company’s stock valued at $601,134,000 after purchasing an additional 47,725 shares in the last quarter. BlackRock Inc. grew its position in Ingredion by 1.9% in the first quarter. BlackRock Inc. now owns 5,790,111 shares of the company’s stock valued at $504,608,000 after purchasing an additional 107,110 shares in the last quarter. State Street Corp grew its position in Ingredion by 7.1% in 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. Massachusetts Financial Services Co. MA grew its position in Ingredion by 1.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,432,898 shares of the company’s stock valued at $126,324,000 after purchasing an additional 18,484 shares in the last quarter. Finally, Equity Investment Corp lifted its stake in Ingredion by 1.1% in the second quarter. Equity Investment Corp now owns 1,072,230 shares of the company’s stock valued at $94,528,000 after acquiring an additional 11,393 shares during the last quarter. Institutional investors own 85.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on INGR shares. StockNews.com upgraded shares of Ingredion from a “hold” rating to a “buy” rating in a research note on Thursday, November 17th. UBS Group initiated coverage on shares of Ingredion in a research note on Friday, September 30th. They issued a “neutral” rating and a $89.00 target price for the company. Credit Suisse Group raised their target price 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. Finally, Stephens upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $100.00 to $120.00 in a research note on Tuesday, January 17th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Ingredion currently has an average rating of “Moderate Buy” and a consensus price target of $103.00.
Ingredion Trading Down 0.3 %
Ingredion (NYSE:INGR – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $1.73 earnings per share (EPS) for the quarter. The firm had revenue of $2.02 billion during the quarter. Ingredion had a net margin of 5.77% and a return on equity of 14.62%. As a group, analysts predict that Ingredion Incorporated will post 7.06 earnings per share for the current year.
Ingredion Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 24th. Stockholders of record on Monday, January 2nd will be given a $0.71 dividend. The ex-dividend date is Thursday, December 29th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.78%. Ingredion’s payout ratio is 42.90%.
Ingredion, Inc engages in the manufacture and sale of sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials. Its activities include turning corn, tapioca, potatoes and other vegetables and fruits into value added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, and other industries.
- Get a free copy of the StockNews.com research report on Ingredion (INGR)
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