Stephens Inc. AR Decreases Stock Position in Ingredion Incorporated (NYSE:INGR)

Stephens Inc. AR cut its stake in Ingredion Incorporated (NYSE:INGR – Get Rating) by 3.0% in the third quarter, HoldingsChannel reports. The firm owned 6,724 shares of the company’s stock after selling 208 shares during the quarter. Stephens Inc. AR’s holdings in Ingredion were worth $541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INGR. Millennium Management LLC boosted its holdings in Ingredion by 943.1% in the second quarter. Millennium Management LLC now owns 628,246 shares of the company’s stock valued at $55,386,000 after purchasing an additional 568,015 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Ingredion by 4,100.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock worth $29,704,000 after buying an additional 332,719 shares during the last quarter. Bank of Montreal Can lifted its holdings in Ingredion by 89.7% during the 2nd quarter. Bank of Montreal Can now owns 334,722 shares of the company’s stock worth $30,523,000 after buying an additional 158,303 shares during the last quarter. State Street Corp lifted its holdings in Ingredion by 7.1% during the 1st quarter. State Street Corp now owns 2,364,523 shares of the company’s stock worth $207,518,000 after buying an additional 155,995 shares during the last quarter. Finally, abrdn plc purchased a new stake in Ingredion during the 2nd quarter worth about $13,538,000. 85.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on INGR shares. UBS Group started coverage on Ingredion in a report on Friday, September 30th. They set a “neutral” rating and a $89.00 price target for the company. StockNews.com raised Ingredion from a “hold” rating to a “buy” rating in a report on Thursday, November 17th. Stephens raised Ingredion from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $100.00 to $120.00 in a report on Tuesday, January 17th. Finally, Credit Suisse Group lifted their price target on Ingredion from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, November 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingredion has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Ingredion Stock Down 0.3 %

INGR opened at $102.15 on Monday. The business’s 50-day simple moving average is $98.39 and its 200-day simple moving average is $91.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 1.68. Ingredion Incorporated has a one year low of $78.81 and a one year high of $105.24. The stock has a market capitalization of $6.70 billion, a P/E ratio of 15.43 and a beta of 0.77.

Ingredion (NYSE:INGR – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.73 EPS for the quarter. Ingredion had a return on equity of 14.62% and a net margin of 5.77%. The business had revenue of $2.02 billion for the quarter. Analysts anticipate 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 given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, December 29th. Ingredion’s dividend payout ratio (DPR) is presently 42.90%.

Ingredion Company Profile

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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.