Ingredion Incorporated (NYSE:INGR) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Ingredion Incorporated (NYSE:INGRFree Report) by 58.7% in the third quarter, HoldingsChannel.com reports. The firm owned 35,685 shares of the company’s stock after buying an additional 13,196 shares during the period. Van ECK Associates Corp’s holdings in Ingredion were worth $3,511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of INGR. Norges Bank acquired a new stake in shares of Ingredion during the 4th quarter valued at $62,186,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ingredion by 4,100.0% in 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 purchased a new stake in shares of Ingredion in the second quarter valued at $35,533,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Ingredion in the second quarter valued at $27,801,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Ingredion by 314.4% in the second quarter. Acadian Asset Management LLC now owns 226,171 shares of the company’s stock valued at $23,948,000 after purchasing an additional 171,587 shares in the last quarter. Institutional investors and hedge funds own 84.80% of the company’s stock.

Wall Street Analysts Forecast Growth

INGR has been the subject of a number of research analyst reports. Stephens restated an “overweight” rating and issued a $130.00 target price on shares of Ingredion in a report on Wednesday, February 7th. UBS Group increased their price objective on Ingredion from $132.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Barclays cut their price objective on Ingredion from $118.00 to $110.00 and set an “equal weight” rating for the company in a report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Ingredion presently has a consensus rating of “Moderate Buy” and an average target price of $122.60.

Check Out Our Latest Stock Analysis on Ingredion

Ingredion Trading Up 0.8 %

Ingredion stock opened at $109.07 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.92 and a quick ratio of 1.10. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.02 and a beta of 0.79. Ingredion Incorporated has a one year low of $89.54 and a one year high of $113.46. The company’s fifty day moving average price is $108.34 and its two-hundred day moving average price is $102.78.

Ingredion (NYSE:INGRGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.87 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $2.07 billion. Ingredion had a net margin of 7.88% and a return on equity of 18.57%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. On average, analysts forecast that Ingredion Incorporated will post 9.6 earnings per share for the current fiscal year.

Ingredion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.86%. The ex-dividend date was Friday, December 29th. Ingredion’s payout ratio is 32.50%.

Ingredion Profile

(Free Report)

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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Institutional Ownership by Quarter for Ingredion (NYSE:INGR)

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