Aspire Private Capital LLC lifted its position in Ingredion Incorporated (NYSE:INGR – Free Report) by 244.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,218 shares of the company’s stock after purchasing an additional 864 shares during the period. Aspire Private Capital LLC’s holdings in Ingredion were worth $124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Ingredion during the fourth quarter worth $62,186,000. Envestnet Asset Management Inc. raised its position in Ingredion by 254.7% during the first quarter. Envestnet Asset Management Inc. now owns 652,183 shares of the company’s stock worth $20,402,000 after acquiring an additional 468,332 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Ingredion by 4,100.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 340,834 shares of the company’s stock worth $29,704,000 after acquiring an additional 332,719 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Ingredion during the first quarter worth $28,182,000. Finally, Scopus Asset Management L.P. grew its holdings in shares of Ingredion by 400.0% during the first quarter. Scopus Asset Management L.P. now owns 200,000 shares of the company’s stock worth $20,346,000 after buying an additional 160,000 shares in the last quarter. 84.80% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Ingredion
In other Ingredion news, SVP David Eric Seip bought 3,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were acquired at an average cost of $98.50 per share, for a total transaction of $295,500.00. Following the completion of the transaction, the senior vice president now owns 18,035 shares in the company, valued at approximately $1,776,447.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Larry Fernandes sold 2,779 shares of Ingredion stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $110.10, for a total value of $305,967.90. Following the transaction, the senior vice president now directly owns 20,246 shares in the company, valued at approximately $2,229,084.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David Eric Seip acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was purchased at an average price of $98.50 per share, for a total transaction of $295,500.00. Following the completion of the transaction, the senior vice president now owns 18,035 shares in the company, valued at $1,776,447.50. The disclosure for this purchase can be found here. Insiders own 1.56% of the company’s stock.
Ingredion Stock Down 3.0 %
Ingredion (NYSE:INGR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.01). The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Ingredion had a net margin of 6.99% and a return on equity of 17.63%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 earnings per share. On average, equities research analysts anticipate that Ingredion Incorporated will post 9.23 EPS for the current year.
Ingredion Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from Ingredion’s previous quarterly dividend of $0.71. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.19%. Ingredion’s dividend payout ratio (DPR) is 36.41%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on INGR shares. Stephens reaffirmed an “overweight” rating and set a $130.00 target price on shares of Ingredion in a report on Wednesday, August 9th. StockNews.com started coverage on shares of Ingredion in a report on Thursday, August 17th. They set a “buy” rating for the company. BMO Capital Markets dropped their target price on shares of Ingredion from $125.00 to $117.00 and set a “market perform” rating for the company in a report on Wednesday, August 9th. Finally, Barclays dropped their target price on shares of Ingredion from $120.00 to $118.00 in a report on Thursday, June 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.20.
Ingredion Incorporated, together with its subsidiaries, produces and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.
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